CEO of FACC Fired After Aerospace Firm Was Hit by Email Scam

Austrian aerospace manufacturer, FACC AG, lost €50 million in a business email compromise scam earlier this year and has fired its CEO over the incident. FACC, which makes components for the aerospace industry, said its board decided last week to fire Walter Stephan for his involvement in the scheme. FACC provides components to many manufacturers, including Airbus, Alenia Aermacchi, Pratt&Whitney, Rolls-Royce, Safran Aircelle, Gulfstream, Bombardier, Cessna, Dassault. (www.onthewire.io) More...