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Toronto school board lost $1M to scammer posing as contractor via fake email, now suing for $2M.
The Toronto District School Board lost over $1 million in a 2024 fraud scheme where a scammer impersonated a contractor using a fake email with obvious spelling errors, tricking the board into wiring funds to a TD Bank account.
The board is now suing an anonymous defendant for over $2 million and seeking a court order to compel TD to disclose account details.
Cybersecurity experts called the scam “low-tech” and “highly preventable,” criticizing the board for failing to detect basic red flags.
The incident, uncovered by the Toronto Star, comes amid the board’s projected $34 million deficit and provincial financial oversight.
The TDSB has since strengthened internal controls and provided anti-fraud training but has not explained why the loss was not disclosed earlier.
La Junta Escolar de Toronto perdió un millón de dólares a un estafador que se hizo pasar por un contratista a través de un correo electrónico falso, ahora demanda por 2 millones de dólares.