CyberNews Briefs

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.

Read More: British Charity Loses Over $1m in Domain Spoofing Scam

OODA Analyst

OODA Analyst

OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.