WTF (Wire Transfer Fraud) attacks are happening daily! Here is yet another example from Cape Cod Community College. According to reports, the hacker group stole more than $800,000 by hacking into the Community College’s bank accounts. The cybercriminals used computers in the Nickerson Administration Building to infiltrate the network using a phishing malware to obtain access to the bank accounts.
The hackers obtained banking information from the school by sending computer viruses via e-mail that lodged in the computer and stole school bank information, then fraudulently transferred the money out of the school’s accounts at TD Bank, according to a school spokesman. Working with the bank, the school has recovered about $300,000 of the funds, the school said, according to The Boston Globe.
Although there is no information surrounding the identities of the cybercriminals, they have not fretted from the exposure and instead of scaling back and claiming the stolen funds, they doubled down, attacked Cape Cod Community College again (yet failed), as well as attacked other colleges in the area.
According to the school’s spokesperson, student and employee personal information was not exposed during the cyber attack. However, it’s still important to remember to protect your business (or in this case, school) with a quality cyber policy.
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If you’d like to read more about the cyber attack against Cape Cod Community College, click here.