A Tasmanian business that recently fell victim to a business email compromise (BEC) scam has managed to recover their missing funds.
The sophisticated scam, which involved intercepting and altering invoice details in an email sent to a customer, lead to a payment of $73,371 being sent to the wrong bank account.
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The incident was reported to police in November and has since been resolved with the help of the bank and the Australian Federal Police, who froze the payment and recovered the funds.
Detective Sergeant Paul Turner of Tasmania Police’s Serious Financial Crime team said that BEC scams, which are a growing and persistent threat globally, mainly target the building and construction industry in Australia.
