"Discount Retail Giant Pepco Loses €15 Million to Cybercriminals"

European discount retailer Pepco Group recently revealed that its Hungarian business has lost a significant amount of money to cybercriminals.  The UK-based company reported losing roughly $16.8 million in cash due to a "sophisticated fraudulent phishing attack." The company noted that an investigation has been launched and is working with banks and the police to recover the money.  Still, the company says it needs to determine whether the funds can be recovered.  The investigation is ongoing, and the company noted that the incident does not appear to have involved any customer, supplier, or colleague information or data.  The Pepco Group owns the Pepco, Dealz, and Poundland brands.  The 3,600 Pepco stores spread across 19 European countries have more than 30 million customers every month.

SecurityWeek reports: "Discount Retail Giant Pepco Loses €15 Million to Cybercriminals"