French Bank Credit Mutuel Arkea Reports €100 Million Loss in Cyberattack

French banking group Credit Mutuel Arkea has revealed that hackers stole approximately €100 million ($112.61 million) in a major cyberattack. The bank said the attackers used one of its accounts to carry out fraudulent transactions. It is currently working to recover the stolen funds but has not yet determined how much can be retrieved. French prosecutors have launched an investigation into the incident.

Following the attack, the bank temporarily suspended certain transactions as a precaution, causing delays in some transfers. However, it confirmed that customer assets were not affected. The bank also denied reports that its online banking subsidiary Fortuneo was involved in the breach, clarifying that neither the division nor its customers’ accounts were compromised.

The incident has raised fresh concerns about cybersecurity risks facing financial institutions. Credit Mutuel Arkea has informed the European Central Bank, French banking supervisors and prosecutors about the breach. The banking group serves more than 5.8 million customers and holds assets worth €211.5 billion. Cybersecurity experts have warned that increasingly sophisticated attacks are creating new challenges for banks worldwide.

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