Missing funds restored to Town of Royalton

cash gavel money

ROYALTON, N.Y. (WIVB) – The Town of Royalton has been finally paid back in full for hundreds of thousands of dollars that were stolen as part of two unauthorized wire transfers.

The Lockport Union-Sun & Journal reports that $92,000 was transferred from KeyBank to the Bank of America. This is the remaining amount owed to Royalton after an Internet “worm” infected the town’s computers in February.

Two large transfers of money were made to different banks totaling $367,000. Most of the money was returned to the bank four days later. The remaining $92,000 was just restored, minus a $14 banking fee.

The town is in the process of moving its accounts from KeyBank to the Bank of Castile. The move had apparently been planned before the breach.

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