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Ubiquiti Networks Victim of $39 Million Social Engineering Attack

Discussion in 'CSO' started by RSS, Aug 7, 2015.

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    RSS New Member Member

    Ubiquiti Networks Inc., the San Jose based manufactured of networking high-performance networking technology for service providers and enterprises, announced in its fourth quarter fiscal results that it was the victim of an email business fraud incident resulting in the loss of $39.1 million dollars.

    In its Form 8-K filings to the SEC the company stated it became aware on June 5th 2015 that it was the victim of a “criminal fraud”. It appears a member of staff in one of its subsidiary companies based in Hong Kong fell victim to what is known as a “CEO scam” or a “Business Email Compromise (BEC) attack.

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