System Lost $130,000 to Payment Fraud Scheme - Community College News Now

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System Lost $130,000 to Payment Fraud Scheme

by The Associated Press

CONCORD, N.H. (AP) — The Community College System of New Hampshire says it’s working with police to recover $130,000 after it became a victim of wire fraud.

College system spokeswoman Shannon Reid says it had been making regular payments on a project by check to a vendor’s representative. Recently, it was asked to pay through an electronic funds transfer through an organization called the Automated Clearing House. After that was done, it was learned the ACH instruction was fraudulent and funds didn’t go to the vendor.

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