Case study School fees fiasco Parents mistakenly pay tuition fees to a fraudster impersonating a private schoolEducational establishments have typically seen their cyber exposure in terms of the risk of suffering a data breach. This is due to the fact that they will often hold sensitive data on both students and their parents and are aware of the potential regulatory obligations that a breach of that data might impose upon them. However, educational establishments shouldn’t see their cyber exposure as being exclusively about data and privacy risk. Funds transfer fraud – whereby fraudsters dupe innocent businesses and individuals into transferring what they believe are legitimate payments to fraudulent bank accounts – is becoming an increasingly common problem for most modern o

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