Moroccan Companies Hit by Sophisticated Cyber Scam, Millions Lost

The modus operandi includes a step of reconnaissance of the accounting situation of the targeted companies, receivables, invoices especially. Then, once the creditors and the amounts are known, the hackers will on their side seek the necessary information to be able to impersonate them. And they offer early payment to the Moroccan company, an amount considerably reduced. Tempting! Another bank account number is then provided, the change of the usual number explained, and the trick is done.

According to Al Massae, who reports this information, the fact that these attacks are carried out from abroad makes the task difficult for the DGSN investigators, as obtaining information from the foreign partners of the victim companies is difficult. These would also be highly complex operations, according to the same source.

This is where another piece of information may be important: According to the daily Assabah, several companies have suffered losses reaching tens of millions of dirhams, and which concern several transfers that they did not order. There may be some genius in the air.

What about the modus operandi this time

In fact, just as simple. The hackers impersonate suppliers or banks and ask for the sending of account numbers and other (sensitive) information as a necessary verification. Those who impersonate banks even ask for passwords. And the companies send them to them... High-complexity scams or appalling naivety? One might wonder.

In any case (and it was becoming urgent), the Ministry of Industry has warned companies against this type of cyber-fraud, indicating that the DGSN investigation is ongoing.