Toyota Boshoku Corporation announced that one of its European subsidiaries lost more than $37 million due to a business email compromise (BEC) attack.
“September 6, 2019- Toyota Boshoku Corporation (TOKYO:3116) announce a recent case involving fraudulent payment directions from a malicious third party that has resulted in a financial loss at our European subsidiary. Together with the European subsidiary, we became aware that the directions were fraudulent shortly after the leakage.” reads the press release published by the company.
The company reported the incident to local authorities and established a team comprising legal professionals to investigate the security breach. The firm also added that it is devoting its utmost efforts to procedures for
“While cooperating in all aspects of the investigation, we are devoting our utmost efforts to procedures for
The expected financial loss following the BEC attack is of roughly 4 billion yen maximum (as of 5 September), which translates to $37,472,000.
In March, Toyota Motor Corporation (TMC) sales subsidiary and its affiliates suffered a data breach that exposed the personal information of millions of customers in Japan.
The car vendor said unauthorized access had been detected on March 21 on a server containing data belonging to 3.1 million customers.
Exposed records included names, addresses, dates of birth, occupation and other information, the good news is that no financial data was exposed in the incident.
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