Public Library falls victim of $685,000 scam in Michigan
Detroit – The scammers stole $685,221.64. Of the amount recovered for the library was $277,795.09. The total amount lost was $407,426.55.
The scam was recently brought to light but was initially revealed during a yearly audit of the library’s finances in 2021.
According to Detroit’s Office of the Chief Financial Officer, someone hacked a library employee’s email and convinced the city to transfer money to an unknown account. Where? That hasn’t been disclosed.
“Employees are in the cross hairs when it comes to business email compromise,” said David Derigiotis.
Derigiotis, a cyber security expert, says to become a target of wire fraud is unfortunately easy.
“It comes down to social engineering, tricking people and getting access,” he stated.
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