Hackers take funds, reportedly up to €1m, from account for disadvantaged students at Trinity College
Trinity College has been scammed out of money, reported to be up to €1m, destined for needy students.
The money was siphoned off by thieves who sent emails asking college officials to change bank account details for payees.
The Trinity Foundation was alerted by its bank to suspicious activity in its accounts.
Some of the funds have reportedly been recovered.
However, a Trinity spokesman says it is too early to say whether everything can be recovered.
He says any shortfall will be made up from the university's future commercial revenues.
In addition to the garda investigation, TCD and Trinity Foundation are conducting a detailed investigation.
They have asked an external computer forensic team to help in establishing the technical details of what happened.
The Irish Sun reports that €1m may have been taken in the scam - a figure TCD would not confirm.
The Data Protection Commissioner's office has been informed and is liaising with the university.
"As both the garda criminal investigation and internal investigation are continuing, Trinity will not be making any further statements at this time," the college says in a statement.
The Trinity Foundation, which helps disadvantaged students, was established as an independent charity in 1994.
Since 1994, the Foundation has raised funds in excess of €280m.
Stephen Breen, crime editor with the Irish Sun, told the Pat Kenny Show: "Trinity had no idea this was happening until the police in the UK contacted the Bank of Ireland and said in relation to your accounts here, it appears that there could be some suspicious transactions."
