Hackers steal over $100K from Pennsylvania town’s police pension fund

Someone hacked into the Avalon police pension fund and stole more than $100,000, borough Mayor David Haslett has said. Haslett released little information about the theft, citing an ongoing criminal investigation. Avalon officials became aware of two unauthorized wire transfers from the pension fund, borough Solicitor Megan Ott said.
The money was tranferred in mid-June and mid-July.

“I can tell you there is a cybersecurity element to the loss,” Ott said. “The criminal activity was perpetrated by hacking or impersonating a borough employee to facilitate the transactions.” The pension fund is guaranteed, so “none of the current pensioners will suffer any direct personal loss because of this,” she said. Allegheny County police are investigating.