Hacking is one of the most serious cybercrime issues that has caused heavy losses to companies that heavily depend on online transactions. Online transactions have been regarded as one of the most efficient ways of moving money. This however, comes with drawbacks such as the ones Ryanair experience recently. Ryanair found itself in a very difficult situation when the company lost 4.6 million Euros to hackers.
Reports from the Irish times indicate that the 4.6 million Euros were withdrawn from a Chinese bank through electronic money transfer. This happened on Friday. It is said that the Criminal Assets Bureau had been asked to assist in the recovery of this money via their counterpart agencies operating in Asia.
In a statement issued on Tuesday night, Ryanair held that they had identified an unauthorised money transfer from their bank account in China. The airline has been coordinating with a number of banks as well as the relevant bodies and it is aware that the money has been stolen. It however expects that the money will be returned soon,promising to put up sufficient measures to ensure this kind of money transfer does not occur again.
The airline is set to take the matter forward for a legal action and it has said that no further comments shall be made with regard to the matter. The airline said that they do not have clear details of how the matter transpired as well as the masterminds of the act.
Ryanair buys fuel for its aircrafts using dollars. These are the funds believed to have been trapped in the transfer that occurred under unclear circumstances. The airline says they are still doing investigations and they believe that they will find the people behind this criminal offense.