A data breach at a school got David Hubbard, president and founder of Chicago wealth management firm Exemplar Financial Network, thinking seriously about data security.

A database and computer system at the school, on whose board Hubbard serves as president, were hacked by a European organized crime ring. The fraudsters created several fake new employees in the school's system using the real identities of online bank account holders, moved payroll funds into those accounts, and wiped the accounts clean.

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