Saturday, 20 October 2007
Great moments in management
Just suppose...
One morning you open up your e-mails and find a note from your mortgage company telling you to make your payments to some new address and new bank account. You'd check it out before sending anything, right...?
The real head-scratcher is how this could even happen in the first place.
Via: Captain Ed, who says it demonstrates how Sarbaines-Oxley is no match for fraud, stupidity, or naivete.
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Just suppose...
One morning you open up your e-mails and find a note from your mortgage company telling you to make your payments to some new address and new bank account. You'd check it out before sending anything, right...?
Supervalu Inc., the Eden Prairie-based grocer, fell prey to an e-mail scam this year, sending more than $10 million to two fraudulent bank accounts, according to federal court filings.Fortunately for Supervalu, somebody there spotted the scam and called in the FBI. The feds were able to block the accounts before the money could be withdrawn.
...
The company said it received two e-mails -- one from someone purporting to be an employee of American Greetings Corp. and another from someone claiming to be with Frito-Lay.... Both e-mails claimed that the companies wanted payments sent to new bank account numbers.
Supervalu sent more than $6.5 million in nine payments between Feb. 28 and March 6 to the phony American Greetings account at HSBC Bank in Miami Beach. The company also sent nearly $3.6 million during the same period to the phony Frito-Lay account in Arkansas. -- Associated Press report at StarTribune.com
The real head-scratcher is how this could even happen in the first place.
Via: Captain Ed, who says it demonstrates how Sarbaines-Oxley is no match for fraud, stupidity, or naivete.
Posted by: Old Grouch in
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