A garda investigation is under way after the National Treasury Management Agency (NTMA) was targeted in what is understood to be a €5 million voice phishing attack.
Earlier this week, NTMA said its staff raised concerns over an individual payment which had been made to one of the Ireland Stategic Investment Fund’s investee companies.
In a statement, the agency said it became clear that the request for payment – what is termed a capital call – was fraudulent.
It added the fraudulent payment request from a 3rd party was designed and timed to pass as a legitimate request for funds from the investee company.
The NTMA said it immediately reported the matter to the relevant authorities, including An Garda Síochána.
The story, which was first published in today’s Irish Daily Mail, claims voice impersonation and a fake invoice were used to carry out the scam.
The NTMA is responsible for managing public assets and liabilities for long term benefit on behalf of the State.
It oversees the Ireland Stategic Investment Fund, which invests in projects that support economic activity and employment in Ireland.
The agency said there is no suggestion of an IT breach on the side of the NTMA or any threat to the IT systems of the NTMA.
An Garda Síochána has confirmed it has commenced an investigation into the matter.
The NTMA has said they are conducting a thorough examination of every aspect of this to fully understand what occurred and that its immediate focus is on recovering the funds.
