Toyota Boshoku Subsidiary Loses Over $37M in BEC Scam

Toyota Boshoku Corporation, a car components manufacturer member of the Toyota Group, announced that one of its European subsidiaries lost more than $37 million following a business email compromise (BEC) attack.

The company said in a press release that the incident took place on August 14, 2019 and that after discovering the BEC fraud incident, it started an investigation together with several legal professionals and subsequently disclosed the event to local authorities.

This incident follows a previous security breach disclosed by Toyota in March 2019 that affected about 3.1 million customers whose personal information may have been leaked following a security breach of multiple Toyota and Lexus sales subsidiaries.

Australian Toyota dealers were also targeted by a cyberattack, which led to the shutdown of its corporate IT systems on February 19, 2019.

 

[Sources: BleepingComputer, The Paypers]

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