Grocery Store Scammed for $10,000,000. Really.

Who would have thought that a big company like SuperValu would be susceptible to an e-mail scam and almost lose $10 million?! Well, it happened just a few months ago. In February they received e-mails supposedly from American Greetings Corp. and Frito-Lay indicating new bank accounts had been set up and payments should be wired to these new accounts.

Has anyone at SuperValu ever read about “phishing‘ or other email scams? I guess not…

SuperValu Email Scam

Without making any inquiries with the two companies about the change in accounts, SuperValu just started sending payments to the accounts indicated in the e-mail. After a week, nine payments and $6.5 million later, it was discovered that the new account with American Greetings was fraudulent. Meanwhile, another $3.6 million was being sent to the fraudulent Frito-Lay account. Luckily, for SuperValu, the FBI was able to get right on it and recover the money before it disappeared.

“SuperValu was the target of attempted financial fraud,” company spokeswoman Haley Meyer wrote in a prepared statement. “We were able to quickly discover and report this to the FBI. As a result of the quick work of the Boise FBI Office and the U.S. Attorney, any funds lost are minimal.”

Fortunate as it may seem, it’s not quite time to break out the bubbly. American Greetings and Frito-Lay are demanding that they get paid – and rightly so. But the matter has been turned over to a judge to decide how the money is going to be allocated. It’s a shame that such fairy-tale endings don’t happen for most individuals who fall victim to e-mail scams. Here’s the link the the whole tale from the Idaho Statesman.

Author: Dave Nielsen

I started using computers in 1978 on the Apple II and was first online (using my “high-speed” 1200 baud modem) in 1989. I’ve managed web sites for several Fortune 500 companies and for internet start-ups. Working for one of those start-ups is what brought me into the world of credit. I was part of the the executive team that ran QSpace, the first company to offer credit reports over the internet.

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