Ryanair bank account raided for $5 million

Ryanair bank account raided for $5 million

Budget airline Ryanair has had its business banking account plundered to the tune of $5 million by unidentified hackers.

The cash was illegally transferred to a Chinese bank from an account that the airline uses to buy aviation fuel.

Ryanair says it working with the Criminal Assets Bureau in Dublin to trace and recover the funds.

“Ryanair confirms that it has investigated a fraudulent electronic transfer via a Chinese bank last week,” the airline said in a statement to the Irish Times. “The airline has been working with its banks and the relevant authorities and understands that the funds - less than $5 million - have now been frozen."

The carrier says it expects full recovery of the funds and has taken steps to improve security measures.

Ryanair is not commenting on whether the transfer was the result of an inside job or the work of external hackers.

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