VELTRA has revealed that it suffered damages of approximately 50 million yen, which was transferred via bank remittance by a subsidiary based on fraudulent instructions from a third party.
In early January, an employee of its subsidiary Linktivity received an email from a third party impersonating a representative of the company, directing the employee to an external social media account. Through this social media account, false remittance instructions were given to the subsidiary’s accounting staff member, who then took out the company’s registered bank seal and transferred approximately 50 million yen to a specified bank account.
After the transfer was completed, the company’s internal confirmation process revealed that the instructions had been fraudulent and that there was a high possibility the company had become involved in a crime. VELTRA consulted the police regarding the damage. The company has also taken measures toward recovery of the funds, such as reporting the incident to the relevant financial institutions and requesting the freezing of the recipient account. The final amount of loss, including the possibility of recovering the funds and whether insurance will apply, is currently under review.
In response to the situation, the President and CEO will voluntarily return 30% of his monthly remuneration for two months, and the Director and CFO, as well as the President of Linktivity, will each voluntarily return 20% of their monthly remuneration for one month.
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