Batu Pahat Company Reports RM1.9 Million In Losses Via Money Transfers To Hackers
Investigations are currently underway, and police are looking into all possibilities, including whether it was an "inside job".
By Aqasha Nalani — 06 Apr 2023, 03:39 PM — Updated over 1 year ago
A snack manufacturer company in Batu Pahat, Johor, reportedly lost RM1.9 million after their banking system was allegedly hacked
The incident was reported to the police yesterday, 5 April, by the company's accountant who said that the money was mysteriously transferred in batches to an unidentified company, reported New Straits Times.
According to Johor police chief Datuk Kamarul Zaman Mamat, early investigations showed that the company's automated system was broken into while the manufacturer was sending money to its suppliers.
Instead of transferring the money to the intended recipients, it was sent to another company without the knowledge of the manufacturer's accounting department.
The accountant said that their company's system had saved all the details of their suppliers, including their company name, registration number, and banking details
However, the hacker allegedly altered the banking information saved in the system, resulting in the funds being transferred to another account.
On 27 March, one of the company's suppliers called to inquire about payment, which alerted the accountant to discover the problem.
Upon receiving the call, the employee proceeded to check the company's transfer records for 24 March but found that ten transfers were made to an unidentified recipient whose banking details did not match any of the manufacturer's pre-saved data.
Shocked by the findings, the accountant went on to lodge a police report.
According to Kamarul Zaman, investigations are currently underway, and police are looking into all possibilities, including whether it was an "inside job"
Kamarul Zaman said that someone working at the company might have changed the details in person if it were an inside job. Still, he did not rule out a cybersecurity issue that might involve external hackers.
The case is being investigated under Section 4(1) of the Computer Crimes Act 1997.
Kamarul Zaman also urged the public to be cautious when performing online transfers.
"It's better to be careful, rather than sorry. So, always check and double-check details before transferring funds," he said.
Meanwhile, a handful of Malaysians have collectively lost RM24,889.28 in their bank accounts within the past few weeks:
