Non-Profit Out $923,000 After Business Email Compromise Scam

Exploit: Business Email Compromise, Email Breach
Company: Philabundance
Industry: Non-Profit
Source: https://www.phillyvoice.com/philabundance-cyberattack-theft-1-million-dollars/

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.

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