UCF lost over $107K in vendor payment scam, auditor general says

UCF loses thousands in vendor payment scam, auditor says

The University of Central Florida lost more than $100,000 after falling victim to a payment scam earlier this year, according to a newly released report from Florida's auditor.

ORANGE COUNTY, Fla. - The University of Central Florida lost more than $100,000 after falling victim to a payment scam earlier this year, according to a newly released report (PDF) from the office of the Florida Auditor General.

In May, UCF employees received what appeared to be a legitimate notification from a vendor requesting a change in payment information. The employees failed to verify the request and updated the details. It took 12 days for the university to detect the fraudulent activity, by which time $107,625 had been transferred to unauthorized accounts.

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In a response to the audit, UCF’s president, Alexander Cartwright, said the school has "taken immediate steps to improve our verification protocols and ensure compliance with best practices in vendor management."

Audit: How UCF lost $100k after vendor was hacked

Matt Rose, CXO of TechRage IT in Winter Springs, joined FOX 35 News+ to talk about the sophisticated hacking scheme that bilked the University of Central Florida out of more than $100,000 by disguising themselves as a vendor, according to an audit report.

He also added that the university has reinforced "data retention and purging processes to uphold the privacy and security of prospective student information."

The report notes that just over $2,300 of the stolen funds have been recovered. You can read the detailed report and response here.

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