Meath County Council has said it has been the target of a cyber attack targeting more than €4m.
The council said an attempt to steal €4.3m through identity theft was detected before the transaction was completed.
It is understood the money has now been frozen in a Hong Kong bank account, which obstructed the attempt to steal it. The money was transferred from the Council's Irish bank in late October after a fake instruction in the name of a company CEO, RTE reports.
The money has not yet been returned, but it is believed this will happen soon.
In a statement today, the council said its bank was alerted and the matter was reported to the Gardaí, who provided assistance through their national and financial crime units and through Interpol.
Sinn Féin Councillor Darren O'Rourke said the council had a lucky escape.
"The sum of money involved is over €4.3m, and that's staggering<" he said. "It's a huge relief to the council and all the service users that this issue was caught before it was too late."