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Cyber Security

Over $37 Million Lost by Toyota Boshoku Subsidiary in BEC Scam

Toyota Boshoku Corporation says one of its European subsidiaries lost more than $37 million following a business email compromise (BEC) attack. The expected financial loss following the incident on August 14 is of roughly 4 billion yen maximum (as of 5 September), which translates to $37,472,000 (or 33,904,000) BEC victims lost over $1,2 billion during 2018 according to an Internet Crime report issued in April 2019 by FBI’s Internet Crime Complaint Center (IC3)

Source: https://www.bleepingcomputer.com/news/security/over-37-million-lost-by-toyota-boshoku-subsidiary-in-bec-scam/

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