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'Shark Tank' businesswoman Barbara Corcoran loses nearly $400,000 in email phishing scam

The reputed investor and entrepreneur got involved in an email phishing scam costing her nearly $400,000 and here's what we all know about the incident
Barbara Corcoran (Getty Images)
Barbara Corcoran (Getty Images)

Barbara Corcoran is best known as one of the toughest "sharks" on ABC's hit reality show 'Shark Tank'. However, she is more than that. A recognized businesswoman, investor, serial entrepreneur, consultant, speaker, author, and television personality, Corcoran is the perfect representation of powerful women in the industry.

She might be the most critical judge on TV and make it difficult for aspiring entrepreneurs to cut a deal with her, but that does not spare her from being on the other side. Take the latest incident of her life, for instance.

The multi-faceted personality and an inspiration for millions of women in the country, Corcoran ended up being a victim of an email phishing scam on Wednesday, February 26. A latest news report states that her office emails were scammed costing her $380.

The scam was not a one-day thing. It all started a week earlier when an email chain hit the mail inbox of Corcoran's bookkeeper. It showed that the email was sent from the entrepreneur’s executive assistant, asking the bookkeeper to pay a random German company named, FFH Concept GmbH, an amount of $388,700.11.

The email appeared like a clear instruction on how and when to pay. Upon further inquiry, she also found out that the payment was legitimate, and that it indeed was a real company where Corcoran is invested in. But the fact is, Corcoran’s assistant never sent such an email.

Upon investigating, the IT company that handles Corcoran’s affairs discovered that the scammers made a minor change in the email address, and managed to communicate with the bookkeeper.

It was only after the assistant received an email on her actual email address, that everyone realized that they have been duped.

As it stands at the moment, the money is definitely out of Corcoran’s account but her tech team is leaving no stone unturned to trace the email back to its source and finding out the best way to recover the amount.

Email phishing can happen to anyone and anytime, even to the sharpest and toughest personalities in the world.  This incident clearly shows that a predator can also become prey and teaches us a lesson of how one can never be careful enough.

No matter what happens, Barbara Corcoran will always remain the shark who identifies the best deal. Watch her in action on 'Shark Tank', now with new timings, every Friday night 8 pm/7c on ABC.