Orion SA says scammers conned company out of $60 million

  • 📰 TheRegister
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 61%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Incident sounds like a BEC fraud targeting an unwitting staffer

Luxembourg-based chemicals and manufacturing giant Orion SA is telling US regulators that it will lose out on around $60 million after it was targeted by a criminal wire fraud scheme.

"As a result of this incident, and if no further recoveries of transferred funds occur, the company expects to record a one-time pre-tax charge of approximately $60 million for the unrecovered fraudulent wire transfers." Usually, the email address is well-concealed – perhaps just a single character is amiss. The scammers often also carry out thorough research of both the target and their supplier, learning how and when they communicate to make the deception even more convincing.in January 2023.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 67. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines