Crime & Safety

Troy Investment Firm Loses $495,000 in Email Hack: Police

It was typical for the company to authorize fund transfers by email, but a request for a transfer to Hong Kong changed that.

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Beth Dalbey, Patch StaffVerified Patch Staff Badge

TROY, MI – A Troy investment company lost nearly half a million dollars after its email server was apparently hacked, authorities aid Tuesday.

Pomeroy Investment Corp. reported to Troy police on April 18 that it had received an email from another company employee requesting that $495,000 be transferred to a Hong Kong bank.

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The company’s investigation determined the email was a fake.

Pomeroy employees typically notify one another of fund transfers, even those that occur overseas, by email, Troy Police Sgt. Meghan Lehman told The Detroit News.

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“But in this case, someone hacked the account of the sender requesting the funds,” Lehman said. “And then was days later before anyone questioned the transaction and learned they had been hacked.”

The company has changed its policies regarding use of email for fund transfers, Lehman said.

» The Detroit News has more on this story.

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