A business email compromise scheme targeted San Felipe Del Rio CISD recently, yet the school district remains positive the issue will be resolved.
The school district discovered the attack on Tuesday and learned funds were electronically transferred via Automated Clearing House to a fraudulent account instead of a proper account, according to a press release.
Automated Clearing House is an electronic network for financial transactions, generally domestic low value payments.
The funds were intended as payments to a bank for the district’s debt service, according to the press release.
Upon discovering of the incident, the district contacted authorities, including the Federal Bureau of Investigation, and began an internal review.
Business email compromise schemes are a form of cyber-crime which use email fraud to attack commercial, government and non-profit organizations to achieve a specific outcome that negatively impacts the organization.
“I want to assure our community that the San Felipe Del Rio CISD remains financially strong and is working to prevent future fraud schemes by reviewing our systems and putting additional safeguards in place,” San Felipe Del Rio CISD Superintendent Dr. Carlos Rios said in the press release.
Additional details were not provided at this time, due to the ongoing law enforcement investigation, per the district’s statement.