Edmonton university recovers bulk of money lost in phishing attack
EDMONTON — An Alberta university that was defrauded of $11.8 million in a so-called phishing attack says it has recovered more than 90 per cent of the funds.
Edmonton’s MacEwan University says in a release that legal proceedings to recover the stolen money have concluded and the institution has recouped $10.9 million.
The institution credits recovery of the large sum to the quick response of an internal team at the university, legal counsel in several jurisdictions, fraud units at the banks involved in the transactions and police.
The downtown Edmonton school says it has put stronger financial controls in place and is implementing IT security awareness and training programs for staff and faculty.