Security News > 2020 > February > Puerto Rico Gov Hit By $2.6M Phishing Scam

A phishing scam has swindled a Puerto Rico government agency out of more than $2.6 million, according to reports.

According to reports, the email-based phishing scam hit Puerto Rico's Industrial Development Company, which is a government-owned corporation aimed at driving economic development to the island along with local and foreign investors.

The agency filed a police complaint on Wednesday regarding the scam, but further questions regarding how the scam was discovered, whether the agency's operations have been impacted, and more still remain.

Phishing scams continue to hit companies hard in terms of losses.

Another form of email-based scam, business email compromise - which the FBI said cost victims $1.7 billion in 2019 - has also continued to target large corporations and governments for profit.

News URL

https://threatpost.com/puerto-rico-gov-hit-by-2-6m-phishing-scam/152856/