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Cyber Thieves Steal $100K From Avalon Police Pension Fund

AVALON (KDKA) -- While officers patrol the streets of Avalon, KDKA has learned that cyber thieves have picked the pocket of the police pension fund.

KDKA's Andy Sheehan: "We understand there's money missing from the police pension fund, as much as $100,000."

Avalon Borough Solicitor Megan Ott: "So, the borough is aware there is money missing. We believe that there are illegal, unauthorized transfers involved."

Working in the anonymity of cyberspace, the thieves hacked into the pension fund and transferred the money into various third party accounts. Then, they drained those accounts and immediately shut them down, leaving no trace or trail of the missing funds.

"This is something new to our borough, and with computers nowadays, it's the way of the world it seems," said Avalon Police Chief Thomas Kokoski. "We're not untouchable, obviously."

Stunned by the theft, Chief Kokoski has asked for independent, outside help to investigate, calling in Allegheny County Police detectives who have already enlisted the help of the FBI.

"We're doing the appropriate steps, and who knows where it's going to go. Nobody knows," he said.

Though the pension funds were held at a local bank, the borough will not disclose the institution. But they say that funds are guaranteed and pensioners will not be missing any pension checks.

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Meanwhile, the borough is conducting an audit of all of their accounts to see if any other accounts have been hacked. They confirm that a minimum of $100,000 is gone.

Sheehan: "It's a lot of money."

Ott: "It is and we're taking it very seriously. This is terrible things for Avalon Borough right now, and we're working hard to make them whole."

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