Kentucky State Treasury thwarts $38,000 fraud attempt

FRANKFORT, Ky. (WTVQ) – The state Treasurer’s office thwarted a fraudulent $38,000 payment of Commonwealth funds.
The quick response prevented taxpayer dollars from being wire transferred to a fraudulent account.
The Treasury received the wire transfer request from a state agency who had received new account information for a vendor by email, when the vendor had been previously paid by check.
Treasury staff trained in cybersecurity protocols determined the account to be fraudulent.
“I am proud of my staff for their thorough review of every payment made by the Treasury and their commitment to cybersecurity. Fraudulent wire transfer attempts have risen sharply in both the private and public sector, especially during the COVID pandemic this past year. This incident highlights the importance of regular cybersecurity training and review for staff,” Treasurer Allison Ball said. “I take my role as a watchdog of taxpayer dollars seriously and thank the Treasury staff for their tenacity.”
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