Education

School District Loses US$2.3 million to BEC

7 - 14 January 2020

A school district in Texas, US, has lost about US$2.3 million after falling victim to a Business Email Compromise scam.
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A school district in Texas, US, has lost about US$2.3 million after falling victim to a Business Email Compromise scam. The phishing emails were sent to the organisation in November, leading to three separate transactions taking place. The employee who authorised the fund transfers had failed to recognise that the designated bank account information had been changed to the attacker’s bank account. Investigation is ongoing to track down the cyber attackers, but it is uncertain if the money can be recovered.

References:

Texas School District Lost $2.3M to Phishing Email Scam

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