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

January 06, 2020 / David Bisson
SHARESHARESHARE

A Colorado town lost more than $1 million in a business email compromise (BEC) scam after mistakenly transferring the money to digital fraudsters. 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.