Conde Nast Victim of Million Dollar Electronic Payment Fraud
April 5, 2011
Total Loss:
$8 Million
A Manhattan media giant with a slew of magazines was taken for millions of dollars by a simple swindle.
Condé Nast apparently gave away more than $8 million when it received an "electronic payment authorization" form by email in November from a company called Quad/Graphics, prosecutors say.
Source:
NY Daily News
Posted in:
ACH and Wire Fraud
New Account Fraud