The warning goes for all Cayman Islands businesses and government entities. The type of payment fraud involves compromising of legitimate business e-mail accounts through social engineering or malware, for the purpose of conducting an unauthorised wire transfer. Hackers use the compromised account to send wire transfer instructions and the funds are then sent to countries all over the world.
CIRT-KY encourages victims of cybercrime to contact the police station immediately, to increase the chance of recovering the stolen funds in timely fashion and limiting further risk.
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