A fraudster got $12M out of a Canadian university

Re:A fraudster got $12M out of a Canadian university by upofadown on Wednesday October 10, 2018 @03:10PM (#18187951)

Note that in this particular case the email in question had a signed document attached. So the scam could of been done with regular mail.The problem here was the lack of verification, not the medium of communication.

The ease of forging emails is more of an issue where the spear phish email is trying to disguise itself as coming from inside the company.

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Re:A fraudster got $12M out of a Canadian university by scott_s on Wednesday October 10, 2018 @03:54PM (#18188303)

Which is why I said it's a process problem. But you definitely want email out of the process since it's not reliable.

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Re:A fraudster got $12M out of a Canadian university by upofadown on Wednesday October 10, 2018 @07:34PM (#18189875)

OK, but what would you replace it with that was more reliable? If a company takes the time to, say, use GPG then email is probably the most reliable method available.

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Re:A fraudster got $12M out of a Canadian university by scott_s on Thursday October 11, 2018 @09:22AM (#18193282)

A service where the payees have to sign in and change the payment information themselves.

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