British Charity Loses Over $1m in Domain Spoofing Scam
A UK based community housing charity lost over $1million in a domain spoofing and contractor impersonation scam, announcing its loss on Tuesday of this week. The charity, Red Kite Community Housing, stated that it had been a victim to a scam in which cybercriminals posed as service providers to steal over a million USD from the philanthropic organization.
Red Kite described the financial loss as devastating, claiming that the criminals spoofed the domain of both a genuine contractor and those of contacts who had a pre-established relationship with the organization. A payment verification process proved ineffective when it did not flag the transaction as suspicious. Red Kite stated that they even had an additional safety net in place, a two-stage process to verify the changes to payments and accounts that typically would have stopped an attack of this nature.