British oil and gas company Zephyr Energy says someone stole £700,000 (close to $1 million) from one of its U.S.-based subsidiaries by redirecting a payment meant for a contractor into a hacker-controlled account. In a regulatory filing with the London Stock Exchange on Thursday, the company said it is “working with the corresponding banks and consultants to attempt to recover the diverted funds.”
While the company did not say how the incident occurred, hackers are known to break into email inboxes or accounting systems and use that access to alter bank account and routing numbers during the process of paying someone or clearing an invoice. Known as business email compromise attacks, the FBI said in its most recent annual report published on internet cybercrime earlier in April that these attacks remain one of the top sources of financial losses, totaling more than $3 billion in victim losses during 2025.
Read more…
Source: TechCrunch News
Sign up for the Cyber Security Review Newsletter
The latest cyber security news and insights delivered right to your inbox
Related:
- ShinyHunters hackers are going after Oracle systems once again
September 29, 2026
ShinyHunters have found a way to bypass a mitigation for a zero-day they previously exploited – so now, not only are they back to abusing the same bug, they’ve even expanded their scope to target a much larger pool of organizations. In June 2026, it was reported that ShinyHunters, the infamous data extortionists, found a Java ...
- Dutch police arrest ‘security researcher’ in ShinyHunters probe
September 29, 2026
Dutch police have arrested a 24-year-old man on suspicion of involvement with the prolific ShinyHunters cybercrime group. Cops announced the arrest on Monday night and said the Amsterdam resident would appear before judges at Rotterdam District Court today (Tuesday). Officers have not named the suspect. However, a company has identified a person they believe to be the ...
- Italy’s top bank hit by an AI messaging scam which cost it nearly €100 million
September 29, 2026
Cybercriminals have tricked a major Italian bank into wiring more than $100 million abroad by targeting executives with AI-powered deepfakes. Some of the money has since been recovered, but a significant portion remains unaccounted for. The target was Fideuram – Intesa Sanpaolo Private Banking, a very large Italian private-banking and wealth-management group owned by Intesa Sanpaolo. ...
- Fake iPhone Duo preorder scam triggers DarkSword attack
September 29, 2026
Apple announced its first foldable iPhone on September 9, and scammers were ready to ‘deliver’ one before anyone could buy it. Most of what MalwareBytes researchers found around the launch of the iPhone Duo and iPhone 18 Pro was familiar fraud. But one fake preorder page was different. Read more… Source: MalwareBytes Labs Sign up for the Cyber Security Review ...
- A former US Army soldier has been sentenced to 70 months in prison for hacking telecoms companies
September 28, 2026
A former US Army soldier has been sentenced to 70 months in prison for hacking telecoms companies, stealing sensitive records, and trying to extort more than $1 million from his victims. Cameron John Wagenius, 22, carried out the campaign while serving on active duty. He pleaded guilty in March 2025 to unlawfully transferring confidential phone records, ...
- Recently disclosed Citrix vulnerabilities exploited in the wild
September 28, 2026
Death and taxes are said to be the only certainties in life. Perhaps it’s time to add attackers targeting newly discovered critical flaws in Citrix’s NetScaler application delivery controller and gateway products to that grim list. On Sunday, the company published a bulletin warning of eight CVEs, the worst of which – CVE-2026-88771 and CVE-2026-88772 – ...