Crucial Details
- Tiny business operator Cody Mullenaux fell sufferer to cybercriminals who made use of refined technological know-how to encourage him they had been from the Chase fraud department and stole much more than $120,000 in wire transfer fraud.
- The criminals also tricked a Chase employee by successfully impersonating Mullenaux when they called to authorize the fraudulent wire transfers.
- Cybersecurity specialists warn of uptick in refined multiprong assaults utilizing “phishing-as-a-provider” kits. They predict the threat will only get worse this calendar year.
- Scammers exploited regulatory loopholes ensuing in Chase not remaining dependable to reimburse Mullenaux’s stolen funds.
