Threat Management

Magazine publisher loses $1.5 million in phishing attack

Bonnier Publications, the publisher behind Saveur and Popular Science, might have lost up to $1.5 million in a successful phishing attack in May.

The New York Post reported attackers accessed previous CEO Dave Freygang's email account and used it to send phony emails to Accounts Payable employees. The emails instructed them to electronically transfer $3 million to a Chinese bank.

One employee fell for the scam and sent two $1.5 million transfers spaced four days apart. The second transfer, sent May 15, was recovered before it arrived at the bank, the Post reported.

The victim apparently called Freygang to confirm the transfer request, and once it was determined that the employee was duped, the transfer was recalled.

Because Bonnier has a base in Florida, the FBI's Tampa team is handling the investigation. And its insurers are conducting an independent investigation.

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