Lost millions
Have you looked in the last place you left it?
An Austrian engineering firm is counting the cost of poor IT security after admitting €50m ($54m) has gone missing from its accounts following a "cyber fraud." FACC Operations makes airplane parts for giants like Airbus and Boeing, and is majority owned by a Chinese holding company. It insists its intellectual property, …
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There are inside jobs and inside jobs.... they are not the same and require different levels of authorisation and different levels of "hacking" to make it happen.
Nicking the petty cash out of the secretaries top drawer is vastly different to falsified accounts which is again different to directly manipulating bank transfers.
Your average engineer in most organisations can have responsibility for the design of a multi-million dollar project but can't authorise the purchase of a 50c pencil.
In 1963, The Great Train Robbers nicked 2.6 million quid and got 30 years for their efforts
Now a single tea-leaf can grab the same amount (allowing for inflation) whilst sitting in front of the TV with a laptop. (and probably won't get caught).
Ah, the good old days, when crooks had to sweat for their loot!
They'd certainly get caught linking their laptop up to a TV, banned for "playing games on work equipment" and told to get the IT department to link up and Powerpoint slideshows for them.
Then while being walked out, asked "can you did give your password back to the IT debt so they can get those business docs out of your work PC?"
In fact, a majority of data breaches are still committed from "inside" organisations..
You can invest in all the data security you want, but if a company doesn't vet its employees properly, it can cost them.. we often read about this in the news when it's £10K here and £50K there, but when it's $50M, then it draws massive attention,,,
"persons unknown managing to get around the electronic payment systems protection systems"
They managed to redirect the gmail notifications to another account.
"the firm's financial servers are being pored over byte by byte to find the culprits."
We haven't a clue how they got in ..