National Treasury Management Agency targeted in phishing scam
The NTMA was tricked out of €5 million by fraudsters, according to Newstalk.
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The scammers allegedly used fake voice impersonation and a bogus invoice to scam the NTMA.
The Irish Daily Mail reported the agency realised over the last few days it had been subject to a voice phishing attack.
The NTMA manages billions of euros on behalf of taxpayers and the State.
The fraudsters allegedly managed to bypass several layers of security protocol to carry out the €5 million scam, according to the newspaper.
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In a statement, gardaí told Newstalk they received a complaint of alleged fraud and have started an investigation into it.
The Irish Times reported that the scam was uncovered earlier this week after staff expressed concern about a payment made to a company connected to the Ireland Strategic Investment Fund (ISIF).
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The fund is managed and controlled by the NTMA and described as 'a sovereign development fund with a unique mandate to invest on a commercial basis to support economic activity and employment in Ireland'.
It emerged this week that one payment, which caused staff concern, was bogus, with the request originating from an as yet unidentified and likely criminal source, according to The Irish Times.
It is understood by the paper that the nature and timing of the request for the fund transfer were designed to increase the chances the scam would be successful.
The NTMA has said that there was no evidence of a breach of its systems, with the criminals exploiting human vulnerabilities and using a type of invoice fraud on the agency.
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