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Browse: Home / 2020 / January / 08 / Colorado Town Loses More Than $1 Million to a BEC Scam

Colorado Town Loses More Than $1 Million to a BEC Scam

By Securities Docket on January 8, 2020, 10:51 am

According to the Denver Post, the town of Erie, Colorado, sent $1.01 million to malicious actors as a result of a BEC scam. The attack began back in mid-October when an unknown individual completed an electronic form on the town’s website. They used the form to request that SEMA Construction, Inc., a local construction company, begin receiving electronic payments instead of checks for its work on the Erie Parkway Bridge going forward.

A staff member subsequently accepted the form and updated the payment information without following the necessary guidelines for doing so. As a result, the town sent two electronic payments totaling $1.01 million to an account not authorized by SEMA. The perpetrators then used wire transfers to move that money outside of the country.

via Colorado Town Loses More Than $1 Million to a BEC Scam.

Posted in Industry | Tagged BEC

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