The wide-scale phishing scam reportedly started in early November and continued through December, before it was discovered by the school district. The Manor Independent School District encompasses 8,000 students from elementary to high school. The district said on Twitter that it is investigating the incident further in conjunction with the FBI and the Manor Police Department. Experts say the incident appears to be a case of vendor email compromise (VEC), a term researchers have coined based on research into a Nigerian cybercriminal group.
Source: https://threatpost.com/scammers-dupe-texas-school-district-out-of-2-3m/151773/