The target was carefully chosen by the attackers as this factory alone had the authority to transfer money.

Leoni has four factories in Romania.

As the branch frequently received such requests from high-ranking executives from Germany, this made the attack less suspicious.

How One Of Europe’s Biggest Company Fell To An Online Email Scam Causing €40 Million Loss

Leoni is the second company to fall for such a classic email scam this year.

Earlier in 2016, toy manufacturer Mattel came close to losing $3 million in a phishing campaign.

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source: www.techworm.net