FRAUDSTER STOLE OVER $1.5 MILLION FROM CITY OF BALTIMORE

Summary from the TLDR InfoSec newsletter

A fraudster stole $1.5 million from Baltimore between February and March by pretending to be a vendor employee, hacking into the vendor's Workday account, and convincing AP staff to redirect bank details. The city recovered $721,000, but cannot recover $803,000 despite insurance claims and reissued payments. This is Baltimore's third instance of vendor fraud since 2019, highlighting ongoing weaknesses in financial controls following losses of $62,000 in 2019 and $376,000 in 2022.