Canadian University Loses $10m in Phishing Scam

Canadian University Loses $10m in Phishing Scam

Canadian University recently become pray of online phishing scam and loses $10m. This story is about MacEwan University of Edmonton, Alberta. They receive fake emails from school seller. The email states that vendor is changing its bank information and staff should pay in new bank account. However the money did not go to the real client.

Most reports states that three staff members made payment of amount $9.5 million or $11.8 million Canadian dollars to the particular account. They get to know about phishing and fake bank account after client called them and asked for money.

Canadian University Loses $10m

Majority of the money is tracked by the Police in bank accounts of Hong Kong and Montreal. Therefore police is working in order to recover the money. Somehow there is a chance of recovery of money.

University officials states that they are arranging something to prevent these kinds of scams take place in future. They also state that their IT system is not in danger due to incident. All of their transactions, personal and financial information are safe and sound now. They can also pay the actual client in full.

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