TX County Loses $300K to Cyber Scam
Updated: Oct 25, 2022
I talk a lot about common and trending scams in this newsletter. My goal is to keep you informed so you can more easily and confidently spot a scam. But if you ever feel overwhelmed with the volume of attacks, you might find some dark satisfaction in knowing that the government can be duped as well. Two months ago, DeWitt County (Cuero, TX) unknowingly sent over $300,000 to a scammer. Details on the scam are scant, but it appears the county auditor processed a change to a vendor’s wire instructions without verifying the source of the request. When the money was wired to a US bank account, the scammer quickly transferred it to overseas accounts and disappeared. Luckily, this small county will be able to recoup most of the money from their insurance provider, but the odds are slim that they’ll ever see those stolen funds again.