Hackers Steal $1.5m from US Publishing House via E-mail Scam

Cyber attackers reportedly from China hacked into Bonnier Publications one prominent publishing house in USA to defraud it off $1.5m during May 2015, published the New York Post in news on June 16, 2015.

Dave Freygang the CEO at that time had his e-mail account hacked through which the attackers dispatched twin fake instructions to a staff member of the accounts division directing him for sending money to certain baking institution in China through electronic transfers.

Labeled as secret and urgent, the e-mails were attempts at phishing. Understandably, the FBI has started an investigation.

Answering an interview, Eric Zinczenko a new CEO for the publication confirmed that one staff member at Bonnier got victimized with an online scam stealing some $3m or so, reported the New York Post.

There were 2 wire transfers done each of $1.5m at a gap of 4 days.

Fortunately, it was possible to retrieve the 2nd wire-transfer done May 15, 2015 before it was too late, said Freygang.

Actually, that could be happen since the staff member substantiated the transfer to Freygang.

However, the May 11 conducted first wire-transfer a 'Bonnier' employee of the Winter Park, Fla. office did failed recovery.

According to Freygang, the phishing scheme was fairly sophisticated.

Perhaps of little surprise is that the mentioned bank in China has been un-cooperative towards extending assistance to 'Bonnier' for retrieving its money, thus outlining how cross-border cyber offense still required remedying.

Chief Executive Officer Charles Sweeney of Bloxx a web-filtering company remarked that phishing was so successful since it imitated a normal situation. When someone received an electronic mail from his chief executive he wouldn't question its veracity since even if the office didn't ever dispatch him an e-mail earlier, the current one was after all from the CEO, he explained. Infosecurity reported this in news on June 16, 2015.

Sweeney continued that hackers took advantage of such odds repeatedly. Thus, members of the staff required being wary of them while any e-mail that sounded suspicious to them should be informed to IT so guidance of future action might be provided, the CEO concluded.

» SPAMfighter News - 6/24/2015