“It is unclear at this stage whether the funds can be recovered, although Pepco is pursuing various efforts through its banking partners and the police,” the business stated.
It continued, saying that as of right now, it doesn’t seem like any employee, supplier, or customer information or data was involved in the issue. According to Pepco, the group continued to produce significant cash flow from its operations and maintained a healthy balance sheet with access to more than 400 million euros in cash and credit facilities.
It did not offer any more information about the phishing scheme.
“The Group takes financial controls and IT security extremely seriously and is currently conducting a group-wide review of all systems and processes to secure the business more robustly going forward.”
Pepco
Pepco Group has 248 stores in Hungary and had first-quarter revenue of 1.9 billion euros.
($1 = 0.9213 euros)
