Criminals stole $2.3 million from US city via email fraud

Criminals have managed to steal $2.3 million from the American town of Peterborough through email fraud, the city council has announced. In late July, it became clear that the regional school district had not received the $1.2 million monthly. The investigation that followed revealed that the city had been defrauded.

Scammers had sent emails and used forged documents that appeared to be from the school district. As a result, the $1.2 million was transferred to the wrong account. While the investigation was still ongoing, it became clear on August 18 that two other transactions, worth $1.1 million and intended for a construction company, had been transferred to an account of the scammers in the same way.

The city says that its own financial employees who transferred the money are not suspected of a crime, but that they are on leave as long as the investigation is still ongoing. It is still unclear whether the damage suffered by the city is covered by insurance. Due to the theft, all electronic transaction procedures and policies are under review.

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