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Iowa company sent over $800,000 to scammer in 2022; US recovers about $375,000 four years later
In 2022, an Iowa company transferred over $800,000 to a scammer through a business email compromise scheme. The scam involved fraudulent vendor invoices, which led employees to believe the payments were legitimate. Although the government recovered roughly $375,000, the bulk of the funds remains unrecovered. Investigators traced part of the fraud proceeds to a Wells Fargo account before resorting to legal action.
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