Breach report · Not-for-profit
Non-Profit Out $923,000 After Business Email Compromise Scam
Philabundance lost $923,000 when scammers hacked its systems and swapped a real construction vendor's invoice email for a fraudulent one during a kitchen build.
Business Email Compromise (BEC) scammers have left hunger relief charity, Philabundance, with a six-figure deficit. Fraudsters struck when the Non-profit organization was paying construction bills for a new community kitchen. While no personal or consumer information has been reported as compromised in the attack, the charity was duped into paying $923,000.
The incident is believed to have occurred as bad actors were able to hack into the organization’s computer systems, diverting a legitimate email from the construction company and replaced it with their own. Subsequently, the funds were transferred to the fraudster’s account rather than the actual construction company’s.