attorney’s office in San Francisco had declined to open an investigation.
25, nearly a month later, the FBI assigned a special agent to the case. Williams filed reports with the FBI’s IC3 and the nonprofit’s bank in San Francisco, as well as a branch ofĬontacting the Federal Bureau of Investigation didn’t get Ms. Immediately after discovering the fraud in late January, Ms. One Treasure Island didn’t have cyber insurance, she said. “It wasn’t like they were using weird language or using terminology that you wouldn’t use in these circumstances,” she said. Williams, who transferred the $650,000 to the Odessa bank in three increments, for the legitimate invoice and the two made-up ones. Williams and sent it to her again, changing the accompanying wire-transfer instructions to a bank in Odessa, Texas, from a California bank.Īfter that, the hackers sent two fake invoices to Ms. Then the hackers took a legitimate invoice that the member organization had emailed to Ms. One Treasure Island is part of an effort to build about 8,000 new homes on its namesake island, including about 2,000 affordable-housing units. In the email, the hackers said that an agreed-on December payment would be delayed.
Williams in an email to an employee of the member organization that was expecting the loan. The nonprofit had around $2.4 million in revenue and $4 million cash in savings at the end of its 2019 fiscal year, according to its most recent tax filing.Īfter the hackers infiltrated the bookkeeper’s email system, they posed as Ms. The stolen money was intended to kick-start new building projects, providing a loan to a member organization of One Treasure Island for hiring architects and engineers. The nonprofit works to create jobs for formerly homeless people, ex-prisoners and others who struggle to find work in the Bay Area. About 2,000 people already live on the island. These are just the email compromises companies disclosed, meaning the true figures are likely larger, said Kelvin Coleman, executive director of the National Cyber Security Alliance, a nonprofit that promotes cyber partnerships between the public and private sectors.įormed in 1994, One Treasure Island is part of an effort to build about 8,000 new homes on its namesake island, including about 2,000 affordable-housing units.
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