The Midcoast Regional Redevelopment Authority nearly lost $125,000 to cyber-criminals this week after they attempted to initiate a fraudulent bank transfer. The attackers gained access to email accounts belonging to Midcoast through the use of compromised login credentials and sent an email from an employee of Midcoast to the organization’s primary financial institution requesting that the funds be transferred to an outside account. Luckily for Midcoast, they had put safeguards in place with their financial institution to require a verification email from Midcoast’s Executive Director as well as a follow-up phone call with the Executive Director before a transfer will be initiated. No details have been released at this time of how many accounts were compromised.
By Anthony Zampino Introduction Leading up to the most recent Russian invasion of Ukraine in