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French cinema chain suffers CEO fraud

11/12/2018

Following a lawsuit filed by the CFO of a Dutch branch of the French cinema chain Pathé, it has become public that the company has been the victim of scam known as the CEO fraud.

Apparently, the CFO received an email telling him to make a transfer of more than €800,000 as part of a strictly confidential acquisition. The CFO and the CEO found the request odd, but they did not realise that it was actually a fraud. Requests of this kind were happening and in less than a month about 19 million euros had been transferred.

Previously, this chain of cinemas had suffered a hack from their Twitter account in the UK that was used for a crypto currency scam.