Google and Facebook lose $100m after falling for scam

According to The Times article dated 29th April, Google and Facebook have both fallen prey to cyber criminals, who have exploited vulnerabilities in their invoicing systems. Lithuanian based hackers impersonated Asian based suppliers to the tech giants, exploiting an invoicing weakness to remove an estimated $100m from the companies over a two year period.

In a recent report into Cyber Security, the Institute of Directors (IoD Policy Report) reported that more than one quarter of UK businesses had inadequate or non-existent processes to protect themselves from a similar cyber attack.

Whilst your business might not be as large as Google or Facebook and you therefore hope that any loses won’t be of this magnitude, your business could loose substantial sums without adequate protection. What does that look like?  If you’re unsure give Millbridge’s cyber security division a call, we can help.


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