‘Nightmare’ for Thame firm as cyber fraudsters steal £19k in just 30 seconds

MD Jason Koffler of Critical Power Supplies
MD Jason Koffler of Critical Power Supplies
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A power supply company has lifted the lid on how cyber fraudsters hacked into its system and stole £19,000 in just 30 seconds.

Critical Power Supplies, based at Thame’s Howland Business Park, managed to recuperate the money but has been forced to invest more than £9,000 in boosting security.

Managing director Jason Koffler said: “It’s been a bit of a nightmare but you do get stronger through it.

“We have changed a lot as a business because of this. It’s helped us but it’s cost us.

“We didn’t know how long they were in our systems for but I had a gut feeling because one of our computers was acting funny.”

The computer kept rebooting and Mr Koffler rang the company’s bank only to make the shocking discovery.

“The very next day they could have taken another £19,000 if we hadn’t caught them,” he added.

The director said the four year old business is fortunate because it is a profitable organisation.

He said: “I can imagine for some companies or someone feeling the pinch it could be the final straw.”

A Federation of Small Businesses report indicates that £785 million is lost to cyber fraud each year while the government has said 90% of small companies have been caught out in the last 12 months.

It is not something that surprises Mr Koffler though, who highlighted how often credit cards and Wi-Fi are hacked.

He added: “Most of my business friends have been stung.”