Pepco Hungary Loses EUR 15 mln in Phishing Attack

Retail

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The Hungarian business of European discount retailer Pepco Group has suffered a phishing attack, resulting in about EUR 15 million of losses, it said in a press release.

"It is unclear at this stage whether the funds can be recovered, although Pepco is pursuing various efforts through its banking partners and the police," the company said. 

The incident does not appear to have involved any customer, supplier or staff data, it added.

Pepco said the group had a strong balance sheet with access to more than EUR 400 mln in liquidity from cash and credit facilities and continued to generate strong cash flow from its operations. 

"The group takes financial controls and IT security extremely seriously and is currently conducting a group-wide review of all systems and processes to secure the business more robustly going forward," it said in the press release.

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