European firms’ financial departments the target of cyberattacks

Two major cyberattacks have siphoned over $50 million and nearly $80 million from the Belgian bank Crelan and the Austrian aircraft parts manufacturer FACC, respectively.

Official statements released by both firms this month were light on detail but indicated that they had fallen victim to a scam known as Business Email Compromise (BEC).

European firms’ financial departments the target of cyberattacks