Major Aircraft Component Manufacturer Scammed out of $50Million
INCIDENT
Fischer Advanced Composite Components AG (FACC) was swindled a record 42 million euros (around $47 million) through a spear-phishing attack.
A fake email that impersonated its then CEO Walter Stephan, conned one of FACC’s financial department employee into wiring 50 million euros that was supposedly for one of the company’s acquisition projects.
FACC is a major designer and manufacturer of aircraft components and systems, with a client base that includes Boeing, Airbus, Rolls-Royce, Siemens SAS and Mitsubishi Heavy Industries.
Incident Date
January 15, 2016
Location
Estimated Cost
39,1 million euros (€10.9M of €50M recuperated)
Type of Malware
Threat Source
No threat source identified
Industries
Impacts
IT