A quasi-state agency has filed a federal lawsuit in an effort to force private insurance companies to cover millions of dollars lost last year through a cybercrime with ties to Dubai, China and other foreign countries.
A quasi-state agency has filed a federal lawsuit in an effort to force private insurance companies to cover millions of dollars lost last year through “wrongful wire transfers” in a cybercrime with ties to Dubai, China and other foreign countries.
The fraudsters allegedly duped employees in the receiver’s office into sending wire transfers that came from the accounts of two automobile insurance firms under liquidation and overseen by the receiver. The biggest wire transfer that has not been recovered was for $930,000 to the same bank on July 6, 2021, according to the lawsuit.
The fraudsters likely focused on Harrell in what is known as a “spear phishing attack.” That’s when criminals target high-ranking individuals in a corporation or agency rather than trying employees throughout the company.The receiver said an internal report indicated “a significant possibility exits” that Harrell’s “email credentials were compromised via his personal phone or tablet,” but how the phishing scheme started is difficult to pinpoint.
Harrell said he spotted the wrongful transactions “right away” and “called everybody within two minutes” to address the matter with senior management, including the top technology officials and lawyers.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New U.S. Cross-Agency Collab To Help Create Convenient, Affordable, Reliable, & Equitable National EV Charging NetworkThe Joint Office of Energy and Transportation announced today a $1.5 million award to National Association of State Energy Officials (NASEO)
Read more »
Mars sample return details coming next week, NASA and European Space Agency promiseThe briefing will present a mission architecture proposal by NASA and the European Space Agency.
Read more »
6 Turpin siblings sue Riverside County, foster care agency over placement with family that had been reported for 'abuse and neglect''BEYOND SHOCKING': 6 of the 13 Turpin children who escaped their parents' 'house of horrors' were placed by Riverside County and foster care agency ChildNet with a family that sexually and psychologically abused them, they allege in a lawsuit.
Read more »
A Houston distiller named his craft vodka after a famous Texas dance. So the state sued him.The Texas Lottery Commission has asserted that a vodka with the same name as one of its games of chance would confuse its customers and erode its reputation.
Read more »
FEMA report: Flood insurance hikes will drive 1 million from marketA FEMA report obtained by The Associated Press under the Freedom of Information Act said the agency estimates one million fewer Americans will buy flood insurance by the end of the decade
Read more »