College savings plan accounts breached, $1.4 million taken

Published on Wednesday, 27 June 2018 16:40
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HARTFORD - Connecticut State Treasurer Denise Nappier's office says 21 of the department's college savings account customers have been hacked, resulting in than $1.4 million worth of unauthorized withdrawals.

The office announced Wednesday it was advised of the breach by the Connecticut Higher Education Trust or CHET Direct program manager, which is TIAA-CREF Tuition Financing Inc. Unauthorized individuals were apparently able to gain online access to the customers’ accounts, making a total of 44 unauthorized withdrawals.

Of the $1.4 million withdrawn, the treasury says $442,540 was recovered or stopped. CHET Advisor accounts that are managed by The Hartford were not breached.

The office says TIAA-CREFF Tuition Financing Inc. will fully restore all affected account holders and provide various identity fraud protection services.

Federal, state and local law enforcement agencies are investigating the breach.

Posted in New Britain Herald, General News, State on Wednesday, 27 June 2018 16:40. Updated: Wednesday, 27 June 2018 16:43.