Cyber fraud at overseas subsidiary; about EUR 3 mn transferred, EUR 0.45 mn recovered

Capillary Technologies disclosed a cyber fraud at a recently acquired overseas subsidiary. About EUR 3 million was fraudulently transferred using deepfake voice cloning, signature forging, and social engineering to impersonate key managerial personnel. The company has already recovered EUR 0.45 million, and additional traced funds have been placed on hold by banks. The subsidiary is covered under a cyber insurance policy and the insurer has been notified. No customer or employee data was compromised, and business operations continue without material disruption. The company sees no need to change annual or long-term goals. Disclosure was delayed and the company has sought stock exchange forbearance.