Irish budget airline Ryanair on Wednesday revealed that almost $5.0 million (4.53 million euros) was fraudulently removed from one of its accounts in a scam involving a Chinese bank.
"Ryanair confirmed that it has investigated a fraudulent electronic transfer via a Chinese bank last week," the airline said in a statement, confirming a media report.
"The airline has been working with its banks and the relevant authorities and understands that the funds have now been frozen.
"The airline expects these funds to be repaid shortly, and has taken steps to ensure that this type of transfer cannot recur."
The Criminal Assets Bureau, a specialist police unit in Ireland, is understood to be working with Asian agencies to assist in the recovery of the money.
The Irish Times newspaper said the airline -- which only flies within Europe -- uses dollars to purchase fuel for its aircraft and that it was these funds that were targeted.
"As this matter is subject to legal proceedings, no further comment will be made," the airline added.
Name (required) *
E-mail (required, but will not be published) *
Notify me of follow-up comments
Tamim Iqbal scored his eighth Test century before Moeen Ali took 5-57 to spark a spectacular collapse as England dismissed Bangladesh for…
The facade of the world's tallest building, the Burj Khalifa in the Gulf emirate of Dubai, was lit up in pink Thursday…
It took just seven days for "Wizard of Oz" nostalgics to raise more than $300,000 in a crowdfunding drive to restore Dorothy's…
Powered and Developed by FilmMatters
Copyright © 2016 Arabtoday