Portland Public Schools almost got BEC scammed a HUGE $2.9 million

Portland Public School employees thwart a business email compromise scam that could of cost them $2.9 million.

@JakConnorTT
Published Fri, Aug 23 2019 7:06 AM CDT   |   Updated Tue, Nov 3 2020 11:47 AM CST

Scamming is becoming more and more prevalent in this day and age, and the new form of scamming that is hitting the internet in waves is 'business email compromise' or BEC for short.

Portland Public Schools almost got BEC scammed a HUGE $2.9 million | TweakTown.com

What is a BEC scam? Well, its actually quite simple when you think about it. A BEC scam is when a criminal impersonates a third-party convinces someone at a business to wire them business funds. Usually the criminal will locate someone within the business that has access to the companies funds, once that person is located the criminal might compromise the email account holder or the companies supplier and request funds to be paid to them. Some cases of BEC scams have been based entirely on social engineering through spoofed email accounts.

In the case of Portland Public Schools, the scammer got two employee's at the schools to send him money as the scammer was posing as one of the institution's construction contractors. The employees unknowingly sent the scammer a staggering $2.9 million dollars, luckily Portland Schools moved extremely quickly and contacted the banks to freeze the transaction. The transaction was successfully frozen, and Portland Public School contacted the FBI for further investigation into the matter.

The moral of this story is to always be safe online and double check email addresses, requests or anything that you might think to be suspicious. Especially since everything is now online, and scammers are constantly thinking up new ways of taking the easy road in life. See something, say something.

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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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