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    School district’s bank accounts hacked for $3 million

    Date: 01.18.10 | by Judge Tom.

    A New York state school district suffered a significant loss just days before Christmas. The Duanesberg Central School District discovered unauthorized transfers from it’s bank accounts to the tune of $3 million.

    Ted Drake (Flickr)

    The authorities investigating the case do not believe it was an inside job. “A lot of this activity is a part of organized crime so it’s not always individual hackers” stated business professor Sanjay Goel. It is not uncommon for hackers to have sophisticated software that can scan millions of computers in a short period of time.

    The school could have been the victim of  “spear phishing”. This method of hacking uses e-mails that appear to be real. They often include requests for usernames and passwords. If you respond, you put yourself at risk for identity theft. Working with overseas financial institutions, the school has recovered $2.5 million. Be careful about providing identifying information online and to unknown persons or institutions.

    For more about hacking, see:  http://askthejudge.info/can-i-get-into-trouble-if-i-hack-into-a-schools-computer-system/2420/

    Judge Tom

    This post was written by Judge Tom. Judge Tom is the founder and moderator of AsktheJudge.info. He is a retired juvenile judge and spent 23 years on the bench. He has written several books for lawyers and judges as well as teens and parents including the recently published 'Teen Cyberbullying Investigated' (Free Spirit Publishing). When he's not answering teens' questions, Judge Tom can be found hiking, traveling and reading.

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