Public School Payroll System Siphoned of $150k

A Wisconsin school district was the target of a payroll hack when attackers manipulated the direct deposit system, redirecting some $150,000 away from teachers and into the accounts of hackers. The Stanley-Boyd school district only became privy to the attack by its bank, AnchorBank, when they noticed the unusual activity. The FBI was alerted and steps were taken to retrieve as much of the money as possible.

Small town networks are increasingly becoming prime targets for hackers outside of the US based on their lack of proper IT coverage. Response times to crises aren’t favorable and these small towns ave established easy access to Bank accounts & lines of credit that are in reach of a crafty hacker. The decentralized nature of some of these smaller municipalities provides adequate time for hackers to move money and empty their temporary accounts before investigations can be started in most cases. Fortunately, AnchorBank said it had been able to retrieve a portion of the stolen payroll as of November 27, and believed it could recover most of the lost funds.

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