Kentucky treasurer claims state escaped $5.3 million fraud attempt

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Kentucky state treasurer Allison Ball said that her department has been targeted by sophisticated fraud schemes, one of them worth more than $5.3 million.

Ball told WKYT, the Herald-Leader’s reporting partner, that the schemes have been thwarted because of the training employees received on cybersecurity and how to know “when something is fraudulent and doesn’t pass the smell test.”

Lorran Ferguson, a spokesman for the state treasurer’s office, said in a phone interview that she cannot disclose the type of training employees received in order to avoid giving potential criminals the upper hand.

“We’re in the middle of the investigation,” Ferguson said. “... We’re very serious that we’re at and above industry standards. The treasurer is very serious about fraud prevention.”

The investigation into the fraud attempts is ongoing, Ball told WKYT. The total number of fradulent transactions and the amount are not immediately available.

Ball is expected to say more on the Kentucky Newsmakers at 6 a.m. Sunday on WKYT and 10 a.m. Sunday on the CW Lexington.