FBI Investigating Theft of $500,000 from NY School District
Summary: Cyber thieves tried to loot roughly $3.8 million from Duanesburg Central School District's online bank accounts, starting with a $1.86 million transfer attempt on Dec. 18 and another $1.19 million the following Monday, before a bank representative flagged $758,758.70 in transfers as suspicious the next day. The district and its bank recovered $2.55 million, leaving the district out $497,000, and officials said the FBI and New York State police are investigating while the district closed all its bank accounts and opened new ones with restricted online access.
Bottom line: The attempted theft exceeded a quarter of a district whose annual budget is under $15 million and which serves about 1,000 students, and the loss was caught only when a bank employee noticed suspicious transfers - not by the district's own controls.
Read the original at Krebs on Security ↗
- Topics
- Identity & Access Management
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