Bank recovers some of $28K stolen from Eliot account – but was this crime preventable?

OK, now this is somewhat disturbing: it appears that even when a bank was warned that accounts were about to be raided, they failed to prevent it.

David Ramsay reports:

TD Bank has notified the town it has recovered a portion of the $28,000 stolen on July 12 from the town’s direct deposit bank account.

“We have received some of it back. I can’t tell you the exact amount; I don’t have that information,” Town Administrator Dan Blanchette told the Board of Selectmen on Thursday night. “I suspect it’ll take two weeks before we know much more.”

A former Washington Post staffer Brian Krebs, who now blogs on security issues, had alerted the town’s controller and TD Bank on July 11, prior to the theft, that town accounts likely were being raided by computer crooks overseas.

TD Bank was unable to detect any unusual activity and later missed the withdrawals by the thieves.


Did the town change the passwords on its accounts as soon as they were warned? Did the bank put an additional lawyer of security on the town’s accounts after they warned? What happened here? It’s not usual to have a reporter call you with a warning (and thumbs up to Brian for taking the time and effort to try to prevent the crime). So why wasn’t this crime prevented?

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