Canadian university $10m in phishing scam

Fraudulent emails convinced staff at MacEwan University that one of its clients was changing its bank account details. Staff then paid money into the fraudulently created account. The university, in Edmonton, Alberta, is auditing its business practices. Police have traced most of the funds to accounts in Hong Kong and Montreal, but no charges have been laid. The scam came to light when the real client complained of non-payment. "There is never a good time for something like this to happen," university spokesperson David Beharry said in a statement.