Email Scam Snares Bernie’s ‘Our Revolution’ in Quarter-Million Dollar Loss Email Scam Snares Bernie’s ‘Our Revolution’ in Quarter-Million Dollar Loss – NTK Network

Email Scam Snares Bernie’s ‘Our Revolution’ in Quarter-Million Dollar Loss

A “CEO impersonation” scam was the culprit, according to the FBI. The scam went undetected by Our Revolution for about a month.

By NTK Staff | 11.29.2018 @11:00am
Email Scam Snares Bernie’s ‘Our Revolution’ in Quarter-Million Dollar Loss

Sen. Bernie Sanders (I-VT) 501(c)4 nonprofit group, Our Revolution, lost nearly a quarter-million dollars in an email scam, according to Politico and the FBI.

About $242,000 transferred out of Our Revolution’s accounts and into an overseas account in December 2016. The group said in a statement that the missing money was not detected until January 2017. The incident came to light when Our Revolution filed its annual tax forms for 2017 earlier this month.

The group said it worked with the FBI and a cyber-security consultant to address the issue but were ultimately unsuccessful in retrieving the funds.

According to the FBI, the type of hack is also known as a “CEO impersonation.” In a common version of the scam, perpetrators infiltrate a company’s computer network and then make a fake wire transfer request that looks like it’s from a vendor with which the firm frequently does business. The type of scam had resulted in billions of dollars in losses, the FBI wrote in 2017.

Our Revolution went even further, blaming the incident on “an international syndicate of cyber-thieves targeting nonprofit organizations globally.”

The money was intended for the Standing Rock Sioux Native American tribe, a group protesting the construction of an oil pipeline. Our Revolution made good on its promise to give the group the $242,924 it raised after it was discovered the original transaction was sent in error to an overseas account.

The group’s tax filing showed it raised $3.45 million in 2017 and spent nearly $3.2 million that same year. More than $1 million of that went to staff salaries, according to Politico.

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