Discount Retailer Pepco suffers a EUR 15 million loss to cybercriminals


Pepco Group, a European discount retailer, revealed this week that its Hungarian business had lost a significant amount of money to cybercriminals.

The UK-based company reported a cash loss of EUR 15.5 million (roughly USD 16.8 million) due to a “sophisticated fraudulent phishing attack”. An investigation has been launched, and Pepco is collaborating with banks and the police to recover the funds; however, the company says it is currently unclear whether the funds can be recovered.

“At this stage, the incident does not appear to have involved any customer, supplier or colleague information or data,” the company said in a statement.

Read More: Discount Retail Giant Pepco Loses €15 Million to Cybercriminals

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