Hackers Steal $1 Million From Save The Children Foundation

By   ISBuzz Team
Writer , Information Security Buzz | Dec 17, 2018 01:23 pm PST

Save the Children Foundation has revealed that the charity was targeted by fraudsters last year, leading to the loss of $1 million. Speaking to the Boston Globe, the US arm of the non-profit, which supports children worldwide, said that con artists managed to compromise an employee’s email account in order to masquerade as the staff member in question.

Javvad Malik, Security Advocate at AlienVault:

Javvad Malik“We continue to see such attacks against businesses whereby emails are sent to trick recipients into sending money or other details.

Because these are standard emails, there are little technologies can do to protect. Therefore raising user awareness is vital so they are less likely to fall victim to such attacks.

Also, companies should have a two-person check process in place so that one person can’t make a new payment without a colleague verifying the authenticity of the payment.”

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