A city employee has fallen victim to a phone scam pretending to be a bank representative, resulting in nearly $1.1 million being stolen from city bank accounts through unauthorized wire transfers.
This happened when the employee disclosed account information during a phone call, reports NBC Chicago.
City officials said they became aware of the fraud soon after it happened and took steps to mitigate the problem by notifying law enforcement officials and hiring outside cybersecurity experts.
“Law enforcement agencies are working with financial institutions to recover a portion of the money, while City leadership continues to communicate with those involved to identify those responsible and follow the recovery process…
Due to the increasing number of incidents of this nature across the country, the City carries insurance to help mitigate financial losses in these types of incidents. “
Officials said there was no evidence that the city’s network or data was compromised, but the results of a forensic audit of the financial institution to determine whether there was any influence on any of the services stored on its systems were not returned.
“The city will continue to use its internal procedures, security, and employee training programs to strengthen security and help prevent future incidents.”
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