Cyber Crime Caused Almost $50,000 Loss In Cash From A Local Laguna Beach Business

By Michael Webster

Laguna Journal

A Laguna Beach business owner had their Wells Fargo business account fraudulently  compromised.The financial loss was near $50,000. The fraud incident was reported on Friday, March 23 to the local police.The details are still sketchy.

According to Sgt Cota of the Laguna Beach police Dept.,  “The business owner has had the same payroll account for over 15 years. Wells Fargo has reimbursed the business owner." 

Wells Fargo Bank now intends to find and prosecute the perpetrator.

The financial loss from cybercrime in the U.S. exceeded $1.3 billion in 2016, a rise of 24 percent, according to a report issued by the Federal Bureau of Investigation’s Internet Crime Complaint Center.

According to the report, some of the most prevalent and most damaging forms of cybercrimes today include business email compromise (BEC), ransomware, tech support fraud, and extortion.

 LBPD detectives are looking into who may have committed fraud against this business. If you have any information, please contact LBPD at (949) 497-0701.