Leoni, one of Europe’s biggest electric cable manufacturer lost 40 million EUR through a phishing scam
The incident took place August 12th 2016, in the city of Bistria, northern Romania.
It seems that a young woman working as CFO at Leoni’s Bistrita factory was the target of the scam, when she received an email spoofed to look like it came from one of the company’s top German executives.
The attackers seem to have studied the company first, because the email seems to have been crafted in such a way to take into account Leoni’s internal procedures for approving and transferring funds.
▻http://news.softpedia.com/news/one-of-europe-s-biggest-companies-loses-40-million-in-online-scam-50
The attack Leoni suffered is known under different names, such as a whaling attack, a BEC (Business Email Compromise), or CEO fraud.