§ 01The brief
The CEO was travelling. The controller got a short call, then an email from a look-alike domain with wiring details for a 'confidential acquisition'. She sent $1,600,000. The CEO called the next morning about something else, and the fraud came to light.
§ 02What I did
- 1.
Had the company's bank send a recall request and a fraud notice to the receiving bank within an hour of our first call.
- 2.
Filed the CCS complaint and gave both banks the complaint number and the voicemail recording.
- 3.
Wrote a short internal account of the call and email for the company's insurer, so the cyber-crime claim could go in the same week.
§ 03The outcome
The receiving bank froze $1,150,000. The remaining $450,000 had been split to two overseas accounts and was claimed under the company's crime insurance policy.