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Live Oak council authorizes review after about $450,000 lost in suspected cyber theft
Summary
The City of Live Oak council voted to authorize the city manager or city attorney to seek outside personnel to review finance policies and procedures after the city reported an apparent cyber-related loss of approximately $450,000. The police said the investigation is ongoing and recovery of funds is unlikely.
The City of Live Oak council authorized the city manager and city attorney to seek outside experts to review the city’s finance policies and procedures after the council was told the city had lost approximately $450,000 in what officials described as a cyber incident.
A council member told colleagues the loss began in February and that the city has not yet received a full accounting of what happened. The council member said recent related events included a separate credit-card breach that the bank detected and stopped.
Keith Davis,…
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