Portland saw annual premiums jump from $220,000 last year to $325,388 for the city’s current insurance policy.
PORTLAND, Ore. — By the time Portland city leaders realized what had happened, it was too late. In April, cybercriminals made off with $1.4 million — the single largest heist of public funds in city history.
Emails suggest that a city treasurer had flagged the million-dollar wire transfer as potentially fraudulent, but the housing bureau paid it anyway after being fooled by cybercriminals who had access to the city’s internal systems for an entire month.
The Portland breach is just the latest cyberattack to hit local
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