Crédit Mutuel Arkéa cyberattack recovery of stolen funds, Digi Mart USA News: Crédit Mutuel Arkéa has recovered “une partie” of the more than 100 million euros stolen during a cyberattack, Daniel Baal, president of the Confédération Nationale du Crédit Mutuel (CNCM), said Friday.
Speaking on France 5, Baal said the bank had already recovered part of the funds but did not specify the amount. He confirmed the amount stolen was in the range of more than 100 million euros, and said the exact figure would be 118 million euros, according to the newspaper Le Télégramme.
The cyberattack was disclosed Wednesday, and the investigation has been entrusted to the Office anticybercriminalité (OFAC). Baal said cyberattacks occur every day and that the vast majority are thwarted, adding that cybersecurity represents one of the largest budgets within an information system.
Baal said some attacks are motivated by financial gain while others aim simply to destabilize, and may originate in France or abroad. He said he could not say whether this particular attack was French or foreign.
Baal said Crédit Mutuel Arkéa has stated clearly that no individual customer accounts were affected. He added that even if they had been, the bank would have been able to cover any losses, and that deposits are guaranteed.
He described the attack as very damaging for the targeted bank but said it does not undermine the credibility or strength of the banking system. He said the incident should serve as a lesson for the entire banking sector.
