Bullitt Co. Loses $415,000 In Scam

by banker on July 14, 2009

A small county in Kentucky has lost over $415,000 of its account with First Federal Savings Bank. The report says that the money of Bullitt County was taken and distributed to accounts at various banks across the US. According to investigations, the suspect was able to gain access to the account by hacking into an e-mail and changing the passwords. According to County officials, they had already recovered some of the accounts.

SHEPHERDSVILLE, Ky. (AP) – An attorney says Bullitt County has lost over $415,000 through an online banking scam.

The Courier-Journal reports that the a county account with First Federal Savings Bank has been frozen.

County attorney Walt Sholar says the $415,989 theft was discovered on Monday. He says the money was taken and distributed to accounts at various banks across the country.

Sholar says bank officials have contacted the banks where the stolen money was sent. County treasurer Stephanie said as of Tuesday, officials had recovered $46,636. Bradley says the transactions were made from the Ukraine.

She says the culprit hacked into an e-mail and changed passwords on the account to gain access.

Learn more about First Federal Savings Bank.

Read the original story here.

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