Supermarket email modalities

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Posted: Tue Oct 30, 2007 12:10 am

According to a new story in The Register (link), Supervalu supermarket chain changed payment bank accounts.

They received emails informing them that the supplier accounts had changed, and would they please update their records? $10M later, they realized that something was amiss.

One would have thought that confirmation would have been a normal part of policy.

Posted: Tue Oct 30, 2007 3:08 am

Wow

Quote:

Between Feb. 28 and March3, Kilgroff�s filing said, Supervalu deposited more than $6.5million via multiple wire transfers to an HSBC Holdings PLC account listed in the fake American Greetings message.

And on March 2, Supervalu said it made eight separate wire transfers totaling $3.6 million to First Security Bank in Rogers, Ark., as requested in the second e-mail.

Elite Baiter Joined: 02 Jul 2006 Posts: 1702

ROFL. Thats so wrong on so many levels.

I dont know much about banking, but the scammers were completely stupid.

So were the store(s)

IN this day and age financial changes SHOULD NEVER be done via email, you want HARD copy in hand of the dude who is the REP.

Quote:

A long time ago a criminal gang did something a bit simpler, but made more money. They sent there own rep in, but they didnt steal all the money, they took the interest from the money, no one noticed for over 2 years when the gang had left over 587 pounds 10 shillings in the account which was essentially getting the money in, waiting till the last minute of the month and sending it back out. Its more than the 10m because this gang kept the money, Neither company nor supplier wanted bad publicity especially during a war. It was a new clerk who was the gangs downfall, he wrote the wrong details and went round to the company to get the correct details, at which point what had happened became clear. During the great war it was common for reps to be enlisted etc, so the gang easily sent in there own guy.
587 pounds was a lot of money then the average yearly wage was 80 pounds in 1917. The gang didnt get the remaining 587 however, they were killed in action.

You cant do that these days banks dont pay interest monthly anymore, and there isnt a convienient war to kill of the regular mr smith.

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