Ryanair falls victim to $5m hacking scam

Ryanair falls victim to $5m hacking scam

Approximately $5 million has been taken from one of Ryanair’s bank accounts in a hacking scam.

The funds were removed from a Ryanair account last week by electronic transfer via a Chinese bank.

The fraud came to light on Friday and the Criminal Assets Bureau in Dublin was asked to assist in its recovery via counterpart agencies in Asia.

“Ryanair confirms that it has investigated a fraudulent electronic transfer via a Chinese bank last week,” the airline said in a statement.

“The airline has been working with its banks and the relevant authorities and understands that the funds – less than $5 million – have now been frozen.

“The airline expects these funds to be repaid shortly, and has taken steps to ensure that this type of transfer cannot recur.

“As this matter is subject to legal proceedings, no further comment will be made.”

Dollar-based funds that Ryanair uses to buy fuel for its 400-plus Boeing 737-800 aircraft are believed to have been tapped in the illegal transfer, the Irish Times reported.

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