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January 28, 2016

$55 Million Cyber Heist Strikes Aerospace Parts Manufacturer

An Austrian aerospace parts manufacturer – FACC, has been the target of a cyberattack that resulted in cybercriminals making away with a staggering $55 million from the company’s coffers.

FACC has long been a manufacturer supplier of engine and interior parts for companies like Airbus and Boeing, making it a ripe target for cybercriminals who worked toward a big payday.

In a blog post, the company stated that its financial accounting department was the target of cyber fraud, after forensic and criminal investigations revealed the heist.

The manufacturer stated that while the “damage is an outflow of approx.. EUR 50 million in liquid funds,” the IT [...]

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