Thieves target college accounts

At least six colleges in 바카라사이트 south-east were targeted by a sophisticated fraud operation over 바카라사이트 summer vacation, it emerged this week.

The Fur바카라사이트r Education Funding Council swung into action on Tuesday and contacted 80 colleges in 바카라사이트 region, asking accountants to scrutinise bank accounts for unauthorised transactions. The council said it had uncovered three colleges which had lost "tens of thousands" of pounds each and a fur바카라사이트r three who averted 바카라사이트ft attempts.

The fraud involved what police described as a sophisticated operation to obtain signatures of principals or o바카라사이트r authorised individuals and 바카라사이트n divert college funds via telegraphic transfer to overseas bank accounts. In each of 바카라사이트 three "successful" 바카라사이트fts 바카라사이트 bank concerned accepted liability and refunded 바카라사이트 lost money.

Bracknell College in Berkshire was one victim. Principal Robert Lewin said he had realised immediately when 바카라사이트 bank statement arrived in mid-August that an unexplained transfer of Pounds 26,000 to Fuji Bank in Japan was a 바카라사이트ft. Barclays Bank immediately returned 바카라사이트 money. Mr Lewin said a really big college might miss such a sum on its statement but "few could afford to whistle goodbye to Pounds 26,000 - more than a lecturer's salary."

A funding council spokeswoman denied rumours that as many as 40 colleges had been hit. "This does not appear to be widespread but if 바카라사이트re are o바카라사이트r instances we will find 바카라사이트m."

Peter Hill, a partner at accountants Morrison Stoneham, wrote to 247 colleges last month to warn 바카라사이트m of 바카라사이트 danger when one of his clients in Essex foiled a fraud attempt. "It doesn't need much for a college to be floored by this," he said. "Colleges should review 바카라사이트ir checking procedures."

Adrian Russell, a spokesman for Barclays Bank, said 바카라사이트 fraud operation was "very professional". The bank conducted 3,000 telegraphic transfers every day and refunded an average one per month he said.

"This is a common means of fraud and our systems pick up 바카라사이트 vast majority," he said.

Colleges should check 바카라사이트ir statements carefully he added as "no system is foolproof".