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Chinese scammers take Mattel to the bank, Phishing them for $3 million

Discussion in 'CSO' started by RSS, Mar 29, 2016.

  1. RSS

    RSS New Member Member

    Mattel, the popular toy maker behind Barbie and Hot Wheels, was the victim of a Phishing attack last year that nearly cost them $3 million. The only thing preventing a total loss was a mixture of timing and luck, because the day following the attack happened to be a banking holiday in China.

    Details of the attack against Mattel come from a report by the Associated Press, investigating money laundering and other financial crime in Wenzhou, China.

    On April 30, 2015 a finance executive got a note from the newly installed CEO, Christopher Sinclair, requesting a new vendor payment to China. The finance executive didn't see anything wrong with the request, but checked protocol anyway.

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