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Investment fund loses $6 million in BEC scam, suspends operations

A lawsuit filed on Friday by Tillage Commodities Fund alleges SS&C Technology showed an egregious lack of diligence and care when they fell for an email scam that ultimately led to hackers in China looting $5.9 million. The lawsuit says that SSC Technology didn’t follow their own policies, which enabled the theft, but they actually assisted the criminals by fixing transfer orders that had initially failed. The case isn’t just about the theft but it’s about a systemic breakdown in corporate policy.”]

Source: https://www.csoonline.com/article/3121684/investment-fund-loses-6-million-in-bec-scam-suspends-operations.html

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