Oct 31, 2016 12:36 PM
Community College System of NH says it lost $130K in wire fraud
The Associated Press
CONCORD (AP) — The Community College System of New Hampshire says it's working with police to recover $130,000 after it became a victim of wire fraud.
College system spokeswoman Shannon Reid says it had been making regular payments on a project by check to a vendor's representative. Recently, it was asked to pay through an electronic funds transfer through an organization called the Automated Clearing House. After that was done, it was learned the ACH instruction was fraudulent and funds didn't go to the vendor.
Reid said it was important to share the news in order to warn other organizations about the scheme, which involves entities operating in a public bidding environment and which has been identified by police in the Boston area.