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Vermont town set to recoup money lost in email scam

This is why your organisation needs cyber risk insurance…:

NORWICH, Vt. (AP) – A Vermont town will recoup nearly $250,000 lost in an email scam.

Norwich Town Manager Herb Durfee says the Vermont League of Cities and Towns, the town’s insurer, will cover nearly $169,000.

The Valley News reports that in addition to the insured money, Comerica Bank returned nearly $80,000, which leaves Norwich out $1,000, the cost of its insurance deductible.

A report released by Norwich says the money was lost when former Finance Director Donna Flies ignored instructions to stop unauthorized payments from municipal accounts.


Original article here

Peter Glock
Over 30 years of designing, building and managing telecoms and IT services. Primarily working with large enterprise and professional services businesses in Asia, North America, continental Europe and the UK. Information security professional, secret physics nerd.

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