Chinese Scammers Take Mattel To the Bank, Phishing Them For $3 Million (www.cbc.ca)

Posted by BeauHD on Thursday March 31, 2016 @01:01AM from the sign-of-the-times dept.

itwbennett quotes a report from The Associated Press: Mattel, the popular toy maker behind Barbie and Hot Wheels, was the victim of a phishing attack last year that nearly cost them $3 million. On April 30, 2015, a Mattel finance executive got a note from the new CEO, Christopher Sinclair, requesting a new vendor payment to China. Transfers required approval from two high-ranking managers; the finance exec qualified and so did the CEO. The transfer was made. The only thing preventing a total loss was the fact that the following day was a bank holiday. Details of the attack against Mattel come from a report by the Associated Press, investigating money laundering and other financial crime in Wenzhou, China.

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Re:Dumb by The-Ixian · 2016-03-31 01:24 · Score: 4, Insightful

To be fair, if this transaction quantity and type is something you deal with regularly, you can see how you might become lax in your procedures.
No excuse, to be sure. But I have sympathy for them.

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My eyes reflect the stars and a smile lights up my face.
Re:No they didn't by The-Ixian · 2016-03-31 02:01 · Score: 4, Insightful

Perhaps you should meta moderate more?

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My eyes reflect the stars and a smile lights up my face.