According to sources, Quincy Retirement Board (a Government organization in Massachusetts) was hit with a cyber attack. It was first reported on 2022-02-11.
Source 1 | 2022-02-11
“• “More than $3 million is missing from the city's pension fund after an investment manager fell victim to an email phishing scheme, state officials said. The money has not been recovered.” • “The Quincy Retirement Board is under investigation by the Public Employee Retirement Administration Commission after one of its investment managers received an email from a former employee's board email account, which had been hacked. The email included instructions for a $3.5 million wire transfer, which the manager made in February 2021.” • “John Parsons, executive director of the commission, said he believes the transaction was "the result of human error and a breakdown of security controls." • “The memo advised retirement boards to review and confirm security processes, review IT user access authorizations and "ensure there is diligent scrutiny by vendors and the board of all periodic bank and investment statements." • “The Quincy Retirement Board manages the city's pension fund, which contains hundreds of millions of dollars. The board is made up of five people: one city representative, two members elected by Quincy retirees and two appointed by the other three members. There are four staff members.” “
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