Security Experts On Texas School District Loses $2.3m In Phishing Scam

The Manor Independent School District, which is located about 20 minutes away from the state capital, Austin, reported that it had been hit with a phishing scam on Friday. According to CNN, the scam involved three separate fraudulent transactions that were carried out in November. The school district reported that the local police department and the FBI are investigating the incident.

District officials said that though the investigation is ongoing, there are strong leads in the case.


EXPERTS COMMENTS
Javvad Malik, Security Awareness Advocate,  KnowBe4
January 14, 2020
This usually occurs in the form of phishing emails, but can also be sms messages or phone calls.
Many organisations place a lot of emphasis on cyber security by way of investing in technical controls such as firewalls, endpoint protection, or monitoring. While these are important to have, it is equally essential to focus on protecting people. Cybercriminals will attack organisations with the intention of getting the highest return on investment. Usually this translates into social engineeri ....
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Ed Macnair, CEO ,  Censornet
January 14, 2020
Employee awareness needs to be combined with a robust, multi-layered approach to email security.
Once again, a single instance of human error has resulted in huge financial repercussions for an organisation. However, this case is particularly concerning because the Manor Independent School District is responsible for the sensitive data of thousands of Texan students. Organisations such as these must invest in security, or the potential consequences could be more than just financial. There is ....
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Greg Wendt, Executive Director ,  Appsian
January 14, 2020
In order to mitigate the risk of phishing scams moving forth, Manor ISD must implement a custom security strategy.
Phishing attacks such as this are sophisticated, meticulously planned, and strategically executed leaving very little time to react. It is unfortunate that in this case the phishing scam was able to recur three times and resulted in millions lost. In order to mitigate the risk of phishing scams moving forth, Manor ISD must implement a custom security strategy that provides fine-grained user acce ....
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Mike Reimer, Chief Security Architect,  Pulse Secure
January 14, 2020
Cases such as the Manor ISD attack demonstrate the need to coordinate secure controls.
Phishing is a top cyberattack vendor - and threat actors are applying the same targeting expertise as advanced marketers. The imitations are well executed and offer enticing messages to trick a recipient into clicking on a malicious link or share sensitive data. In this case, the scam was so convincing that someone transferred millions of dollars. Cases such as the Manor ISD attack demonstrate th ....
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Corin Imai, Senior Security Advisor ,  DomainTools
January 13, 2020
Granted that it has become increasingly difficult to tell phishing messages from legitimate ones.
Educational institutions and schools are urged not to underestimate the risks associated with phishing. Malicious emails are often just entry vectors for larger-scale attacks, and should, therefore, be at the top of organisations' priorities when devising a cybersecurity strategy. Granted that it has become increasingly difficult to tell phishing messages from legitimate ones, organisations shou ....
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Javvad Malik, Security Awareness Advocate,  KnowBe4
January 13, 2020
Cybercriminals will attack organisations with the intention of getting the highest return on investment.
Many organisations place a lot of emphasis on cyber security by way of investing in technical controls such as firewalls, endpoint protection, or monitoring. While these are important to have, it is equally essential to focus on protecting people. Cybercriminals will attack organisations with the intention of getting the highest return on investment. Usually this translates into social engineeri ....
[Read More >>]

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