Typo-Squatting Scammers Con South Carolina Town Out of $545K
Yahoo picks up the story:
After the payment issue surfaced, Wildcat said Surfside Beach sent over the email thread containing the payment confirmation. The company told WMBF it noticed multiple red flags in the chain. One involved an email address where “Wildcat” appeared with an extra “i.” Another involved documents that the company said included a forged signature taken from a prior notarized document. Wildcat said the money was sent to a spoofing account claiming to be the contractor.More local reports are unraveling what happened:
According to the Wall Street Journal, the town’s finance director said a town employee called Wildcat’s project manager on March 13, the day the payment was sent. The project manager referred the caller to [Wildcat CEO] Bowker. The town then called Bowker’s mobile phone and left a voicemail about the ACH transfer. Bowker told the Wall Street Journal she does not recall the voicemail but acknowledged she may have missed it.Now a new report released by a law firm hired by the town to investigate “shows it did make an attempt to verify before sending $545,000 to a fraudulent bank account,” according to local news reports:
According to the report, the town sent an email to Wildcat’s legitimate email domain on March 13 requesting a callback for verbal verification before sending the payment. Surfside received a response to that email with a phone number, though it remains unclear whether that response came from a real Wildcat employee or from the scammers. The report found that the fake town domain was used in communications between both parties throughout the process, which the law firm overseeing the investigation said was likely created to facilitate the fraud and delay its discovery.That seems to be the case in a nutshell:
Investigators determined the fraudsters used spoofed and typo-squatted email domains, including surfsidesbeach.org, to impersonate town officials and redirect the payment. The fraudulent domain was created March 9 and was used to help conceal the scheme, according to investigators. Town officials said they are continuing to work with the FBI, South Carolina Law Enforcement Division, and their insurance partners to recover the funds.“The town has also implemented additional security measures to strengthen payment verification procedures and reduce the risk of similar incidents.”
For those unfamiliar....
Moltex has been pitching this concept for some time now. They moved from the UK to NB because the province was trying to figure out what to do with their CANDU replacement and put up some money for alternatives willing to move to the province. Moltex, and two others, obliged.
Moltex claims that a WATSS + SSR reactor can produce electricity for about 14.5 cents/Wh. That is twice the current going rate, let alone the rate from the paid-off CANDU6. However, they also claim that by burning the waste from other plants that the cost would come down into the 8.5 range, which is competitive with CANDU’s like Pickering.
However, all of this depends on the capital cost of the WATSS being around 850 million. There is absolutely no way that will happen. Everything takes place in hot cells, the plant structure itself has to be safed, the resulting fuel has to be moved to the SSR for round-trip processing, and you HAVE to include general cost overruns one has to bake into any nuclear plant, let alone first-of-type.
20 years ago everyone was pitching their energy ideas by claiming the result would be cheaper than coal, but these days most things are cheaper than coal so when you see someone making that claim you know they’re full of BS. So when I see Moltex claiming “cheaper than PUREX” I don’t see “economically viable” I read it as “less unviable” and that’s not inspiring. It’s simply not a useful comparison in an era where 20-year PPA’s on solar are 2 cents and 4 cents with 4-hour firming.
One can twist the claims a little to be more about the timelines of the waste than the electricity cost itself, but no matter the protestations one reads around these parts of the ‘net, people don’t *really* care about waste. It’s been sitting around in casks and pools for decades and no one’s doing anything, and no one’s really asking them to. So while we might all think this is a great idea, finding the money for it, and the political capital, seems like the difficult part. Ultimately the pitch comes down to that, we burn your waste, and I’m not convinced this is a big enough issue for the ratepayers of NB to consider doubling the cost of their wholesale power.