Ryanair suffers €4.6m loss in Chinese banking scam
Ryanair has suffered a €4.6m loss after fraudsters illegally transferred cash direct from the company’s account via a Chinese bank.
According to the Irish Times the fraud was carried out last week whereupon the Criminal Assets Bureau in Dublin was called in to trace and retrieve the money in collaboration with their counterparts at Asset Recovery Interagency Network Asia Pacific.
In a statement the airline said: “Ryanair confirms that it has investigated a fraudulent electronic transfer via a Chinese bank last week.
“The airline has been working with its banks and the relevant authorities and understands that the funds – less than $5 million – have now been frozen.
“The airline expects these funds to be repaid shortly, and has taken steps to ensure that this type of transfer cannot recur. As this matter is subject to legal proceedings, no further comment will be made.”