skip to Main Content
+44 (0) 1628 308038 info@tidorg.com

American Nikkei Employee Falls For Social Engineering Scam And Loses 29 Million Dollars

Social Engineering

Phil Muncaster at InfoSec Mag had the (painful) scoop: “Media giant Nikkei has become the latest firm to suffer a humiliating Business Email Compromise (BEC), after it admitted losing $29m to scammers following human error.

The Tokyo-headquartered firm, which owns the Financial Times, revealed in a brief statement that an employee of its US subsidiary made the crucial mistake.

“In late September 2019, an employee of Nikkei America, Inc. … transferred approximately $29m Nikkei America funds based on fraudulent instructions by a malicious third party who purported to be a management executive of Nikkei,” it noted.

“Shortly after, Nikkei America recognised that it was likely that it had been subject to a CEO Fraud, and Nikkei America immediately retained lawyers to confirm the underlying facts while filing a damage report with the investigation authorities in the US and Hong Kong. Currently, we are taking immediate measures to preserve and recover the funds that have been transferred, and taking measures to fully cooperate with the investigations.”

This could have easily been prevented with new-school security awareness training. Test if your employees would answer a spoofed social engineering email from “the boss” here for free. Full story here.


Will your users respond to phishing emails?

KnowBe4’s new Phishing Reply Test (PRT) is a complimentary IT security tool that makes it easy for you to check to see if key users in your organisation will reply to a highly targeted phishing attack without clicking on a link. PRT will give you quick insights into how many users will take the bait so you can take action to train your users and better protect your organisation from these fraudulent attacks!

PRT-image

Here’s how it works:

Immediately start your test with your choice of three phishing email reply scenarios 

Spoof a Sender’s name and email address your users know and trust

Phishes for user replies and returns the results to you within minutes

Get a PDF emailed to you within 24 hours with the percentage of users that replied

PS: Don’t like to click on redirected buttons? Cut & Paste this link in your browser: https://info.knowbe4.com/phishing-reply-test-partner?partnerid=001a000001lWEoJAAW

Close search

Basket

Back To Top