Monday 24 July 2017

Cyber criminals steal €1m from TCD charity account

The crime was discovered after police in the UK raised concerns with Bank of Ireland over a number of suspicious transactions connected to the Trinity Foundation. Stock picture
The crime was discovered after police in the UK raised concerns with Bank of Ireland over a number of suspicious transactions connected to the Trinity Foundation. Stock picture

Alan O'Keeffe

Gardai are investigating the theft of up to €1m by cyber criminals from bank accounts belonging to the charitable foundation of Trinity College, Dublin.

Trinity Foundation, a fundraising organisation of the university, had a "substantial" amount of money stolen from its accounts following a major computer-based scam.

The crime was discovered after police in the UK raised concerns with Bank of Ireland over a number of suspicious transactions connected to the Trinity Foundation.

Around €250,000 of the stolen funds has been located and frozen in a number of bank accounts in the UK and US.

A college spokesman confirmed the foundation was a victim of a computer-based fraud.

"Some money was recovered following the discovery, but it is too early to say whether everything can be recovered. Any shortfall will be made up from the university's future commercial revenues," he said.

Trinity College and its foundation are also conducting an investigation and have engaged an external computer forensic team to assist in establishing the technical details.

The Data Protection Commissioner's office has been informed and is liaising with the college.

Irish Independent

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