Members of St. Catharines Hydro Inc.’s board of directors gathered for an emergency meeting on Thursday afternoon to deal with a breach in the organization’s bank account. Funds totalling $655,000 were removed from one of the board’s bank accounts after an employee with access to St. Catharines Hydro’s banking information fell victim to an email phishing scam.
Employee falls for scam resulting in losses of $655,000
In an email, appearing to be from the utility’s financial institution, the recipient was asked to verify their bank login information. Phishing is when criminals send an email purporting to be from a legitimate organization but links to a false site in an effort to steal passwords and login information. The employee entered the banking info and the funds were later removed from the account.
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