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A comment on The 'bogus boss' email scam costing firms millions. Parent comment

Re:The 'bogus boss' email scam costing firms millions by rwmurrayVT on Friday January 08, 2016 @09:44AM (#10865144)
It all depends on the size of the company and the stupidity of the accounting/purchasing department. The article describes the fraud ranging from modest to sizable. It's not uncommon for many business to have 50k transactions every week. You don't want to go around getting approval for every transaction every day. It's not uncommon for many businesses to have 300k transactions every month.

The business that lost 30m+ I don't understand... It must have been multiple wires over a period of time. They found some vulnerable accountant with the power and just milked them over time.

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Re:The 'bogus boss' email scam costing firms millions by leftwich on Saturday January 09, 2016 @02:55PM (#10872602)
Not all transactions are created equal. Six figure cash disbursement transactions should require approval.

And any company that has so many six figure cash disbursement transactions that approving them is an administrative burden is the type of company that most needs this kind of control in the first place.

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