KENOSHA, WI—Federal Investigators are investigating a phishing scam that cost UW Parkside $300,000.
Reports say that the money was stolen because routing numbers were changed for two vendors the university uses.
The Kenosha News reports that no employee of Parkside is under investigation. However the numbers were apparently changed because an employee was fooled by an email scam. It was discovered last month after a bank noticed an issue with the school’s account. No arrests have been made.
The net loss is expected to be $65,000 to UWP, with some of the money having been recovered after the scheme was detected. Insurance will also cover some of the losses.
No student account information was compromised.