The European retail chain Pepco was tricked into transferring a large amount of money to fraudsters through a complex phishing attack, as the company itself announced in its official press release.
The Hungarian division of Pepco Group, which owns such brands as Poundland in the UK, Dealz in Ireland and Spain, as well as Pepco in various European countries, was the victim of cybercriminals with a total financial loss of about 15 million euros.
It is currently unclear whether the money will be recovered, although the company is actively working with law enforcement agencies and banks in an attempt to detect and freeze the stolen funds. Pepco stressed that the cyberattack did not affect the personal data of ordinary buyers, suppliers or personnel.
In addition, the company assured its customers and business partners of the stability of the company's financial position, indicating that it has access to more than 400 million euros of liquidity from cash and credit facilities.
The press release also informs about conducting a comprehensive audit of all systems and processes to strengthen business security in the future.
Although the company did not disclose the technical details of the attack, there is a possibility that Pepco was the victim of a Business Email Compromise (BEC) attack, which involves fraud using business email.
• Source: https://www.pepcogroup.eu/media-news/pepco-group-n-v-notice-regarding-hungarian-business/
The Hungarian division of Pepco Group, which owns such brands as Poundland in the UK, Dealz in Ireland and Spain, as well as Pepco in various European countries, was the victim of cybercriminals with a total financial loss of about 15 million euros.
It is currently unclear whether the money will be recovered, although the company is actively working with law enforcement agencies and banks in an attempt to detect and freeze the stolen funds. Pepco stressed that the cyberattack did not affect the personal data of ordinary buyers, suppliers or personnel.
In addition, the company assured its customers and business partners of the stability of the company's financial position, indicating that it has access to more than 400 million euros of liquidity from cash and credit facilities.
The press release also informs about conducting a comprehensive audit of all systems and processes to strengthen business security in the future.
Although the company did not disclose the technical details of the attack, there is a possibility that Pepco was the victim of a Business Email Compromise (BEC) attack, which involves fraud using business email.
• Source: https://www.pepcogroup.eu/media-news/pepco-group-n-v-notice-regarding-hungarian-business/
