NM: Computer Heist at Bank Nets $700K: Student Loan Foundation Account Victimized

John Fleck reports:

Someone accessed the bank account of the New Mexico Educational Assistance Foundation earlier this month, making off with as much as $700,000.

The nonprofit foundation manages federal student loans worth $1.3 billion for 94,000 New Mexicans, said the organization’s president, Elwood “Woody” Farber. Farber said only the foundation’s bank account, not any personal client data such as names or Social Security numbers, was accessed in the break-in.

Farber said the matter has been turned over to the FBI.

Read more from this Albuquerque Journal story on Trading Markets.

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