Canadian University Scammed Out of $9 Million by Phishing Attack

[LukeLovesSecurity]

I am speechless... How is a university scammed out of 9 million dollars...

 

[tim one]

That is because, as often it happens, not always, the defense shield is directly proportional to the size of the entity target.

 

[Fritz]

That is because, as often it happens, not always, the defense shield is directly proportional to the size of the entity target.

On top of that, the damage is usually inversely proportional to the size of the entity target's brain merrily responding to the phishing attack.

 

[Deleted member 65228]

How is a university scammed out of 9 million dollars

Most likely down to inexperienced employees who have not been properly educated on cyber-security. It is a cold world and if you want to be protected against scam attempts like this then you need to become educated.

If only companies spent a bit more time actually training their employees than just slapping on some end-point protection and assuming they'll be bullet-proof or never targeted.