Cyber Attack | Data Breach

Published on January 22nd, 2016 📆 | 4010 Views ⚑

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Hackers Steal $55 million From Boeing Supplier

iSpeech
Aerospace parts manufacturer FACC says that its financial accounting department has been attacked by hackers, who managed to steal approximately €50 million ($54.5 million) from its coffers.

Perhaps surprisingly, the company, whose largest shareholder is a Chinese aviation corporation, appears not to have been hacked for its data or intellectual property, but instead for cold hard cash.

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If the claims of the hackers robbing €50 million from FACC are accurate then it is certainly a notable attack, with last year’s Ponemon study claiming that the average data breach cost affected companies $3.8 million.

In a statement on its website, the Austrian-based company, whose clients include Airbus and Boeing, says that it does not believe that the hackers stole any intellectual property, and that its operations are not affected by the hack.
On January 19, 2016 FACC AG announced that it became a victim of fraudulent activities involving communication- an information technologies. To the current state of the forensic and criminal investigations, the financial accounting department of FACC Operations GmbH was the target of cyber fraud. FACC’s IT infrastructure, data security, IP rights as well as the operational business of the group are not affected by the criminal activities. The damage is an outflow of approx. EUR 50 mio of liquid funds.