Florida Baptist Convention Loses $700,000 After Being Attacked by "Sophisticated Financial Cyber Crime"
The Florida Baptist Convention announces that they have lost $700,000 after they have been attacked by "sophisticated financial cyber crime."
The convention explains, "We are writing to share some disheartening news with you. The Florida Baptist Convention has experienced an incident of financial fraud. The fraudulent transaction is related to a payment from our convention to one of our SBC entities. We have reported this crime to the FBI, local law enforcement, our insurance carrier, our bank, and our auditing firm.
"This fraud was accomplished with a general knowledge of the communications and practice between the SBC entity and the convention. An investigation is being launched to determine how this knowledge was gained. At this time, we have no reason to suspect malfeasance by any convention employees. Nevertheless, the convention is committed to fully investigating the matter.
"In addition, the State Board of Missions Administrative and Finance committees have formed a sub-committee to provide oversight to the audit investigation and recommended next steps based on the audit's findings."
Currently, the convention continues to work with federal and state investigators, their internal and external auditors to recover over $700,000 in funds stolen from the convention through cybertargeting.
Additionally, despite existing security protocols, training, regular information systems upgrades, and advanced detection software, they are working to further reinforce our level of information technology security. They remain prayerful that some of this loss may be mitigated through insurance and/or the recovery of stolen funds.
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