An email scammer has stolen $8 million from global publishing giant Conde Nast after sending a fake printing invoice.
The culprit, Andy Surface, sent an invoice email supposedly on behalf of the printing firm which Conde Nast uses, asking the publisher to send payments to a new bank account.
Conde Nast, which publishes magazine's like Vanity Fair, Vogue and The New Yorker, gets its printing work done by a company called Quad/Graphics. Conde happily complied with the request made in the fake email and wired around $8 million to the bank account under the name 'Quad Graph' over the next six weeks.
The publisher realised its mistake after Quad/Graphics called to complain that it had not been receiving its payments. Conde Nast sensed something was amiss and contacted Federal investigators to look into it.
Investigators discovered that the bank account used in the fraud belonged to one Andy Surface of Texas. They also found that he had wired $47,137.91 to a bank account under his own name. Federal authorities have frozen the bank account until the investigation is completed. Surface is yet to be charged with a crime.
A former Conde Nast employee told The New York Post, “This is just another in a long line of lax accounting procedures that typifies the company. The company is so lax in all of its accounting practices, it is shocking.”