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Hackers fooled Save the Children into sending $1 million to a phony account

“Save the Children Federation, one of the country’s best-known charities, said it was the victim of a $1 million cyberscam last year. The Connecticut-based nonprofit said hackers broke into a worker’s e-mail, posed as an employee, and created false invoices and other documents, to fool the charity into sending nearly $1 million to a fraudulent entity in Japan. The con artists claimed the money was needed to purchase solar panels for health centers in Pakistan, where Save the Children has worked for more than 30 years. By the time the nonprofit realized it had been defrauded, it was too late to stop the transfer. But Save the Children Federation, the US affiliate of the international relief organization, said it recouped all but $112,000 through insurance and tightened its security after discovering the theft in May 2017, according to a recent filing with the Internal Revenue Service. ‘We have improved our security measures to help ensure this does not happen again,’ said Stacy Brandom, chief financial officer of Save the Children Federation. ‘Fortunately, through insurance, we were ultimately reimbursed for most of the funds.’”

Source: Hackers fooled Save the Children into sending $1 million to a phony account – The Boston Globe

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