Massachusetts town hit with $445K BEC attack costs

TLDR:

• Arlington, Massachusetts lost over $445,000 in a BEC attack impersonating a vendor.
• The attack targeted funds meant for a $240 million school project, with nearly 6% of the funds already recovered.

Officials in Arlington, Massachusetts, have confirmed a loss of more than $445,000 due to a business email compromise (BEC) attack. The attack, which occurred last year, involved threat actors impersonating a vendor contracted by the town for a $240 million project to rebuild a local secondary school. Town employees were deceived into making four monthly payments to the attackers’ account between October and January. Arlington Town Manager Jim Feeney revealed that almost 6% of the exfiltrated funds have been recovered by the town’s banking agency. Further investigation revealed that the attackers also made unsuccessful attempts to intercept $5 million of payments during the operation.

Feeney emphasized the town’s commitment to improving its cybersecurity posture, acknowledging the ever-changing and evolving nature of cybersecurity threats. He highlighted the importance of continuously adapting defenses to address emerging threats.

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Other cybersecurity news includes Microsoft and Google offering free and low-cost cybersecurity services to rural hospitals, a report ranking network infrastructure devices as the riskiest category for cyberattacks, and a cyberattack disrupting operations at Cleveland’s city hall.