The San Jose, California-based networking equipment provider, Ubiquiti Networks, is the most recent target of a multi-million dollar cyber fraud scam.

The company has admitted in their fourth quarter financial report that they have been involved in “employee impersonation & fraudulent requests from an outside entity targeting the Company’s finance department”. This cyber fraud has accumulated to over $46.7 million in transferred funds and was discovered on June 5, 2015.

To date, the company has reclaimed $8.1 million of the lost funds, and a separate $6.8 million is subject to legal sanction. Although Ubiquiti has stated that the outstanding funds are ‘reasonably expected to be recovered’ when they will receive the remaining $31.8 million is currently unknown.

Ubiquiti’s financial report states, “The Company currently believes this is an isolated event and does not believe its technology systems have been compromised or that company data has been exposed”.

Unfortunately, instances like this are not as isolated as one would hope. While cyber breaches continue to rise, is it vitally important to take preventative measures to protect your IT environment. NNT’s Host Intrusion Detection, we are able to notify you if & when defenses are breached, enabling you to take action before data theft and damages go too far. In other words, when you can’t Stop the Breach, Spot the Breach.


See more on Breach Detection

 You can read the full article on SC Magazine

The Most Powerful & Reliable Cybersecurity Products

change tracker gen7r2 logo

Change Tracker Gen 7R2: Complete configuration and system integrity assurance combined with the most comprehensive and intelligent change control solution available.

FAST Cloud logo

Fast Cloud: Leverage the world’s largest whitelist repository to automatically evaluate and verify the authenticity of file changes in real-time with NNT FAST™ (File Approved-Safe Technology)

vulnerability tracker logo

Vulnerability Tracker: The world’s only limitless and unrestricted vulnerability scanning solution with unparalleled accuracy and efficiency, protecting your IT assets on premises, in the cloud and mobile endpoints.

log tracker logo

Log Tracker: Comprehensive and easy to use security information & event log management with intelligent & self-learning correlation technology to highlight potentially harmful activity in seconds

Contact Us

Corporate Headquarters

6160 Warren Parkway, Suite 100
Frisco, Texas, 75034

Phone 1: 1-949-407-5125

Phone 2: 888-638-9749 (toll-free)

[email protected]

United Kingdom

5 New Street Square
London EC4A 3TW

Phone: +44 (0) 203 588 3023

 [email protected]
SC Magazine Cybersecurity 500 CSGEA Winners 2021 CIS benchmarking SEWP Now Certified IBM Security
Copyright 2023, New Net Technologies LLC. All rights reserved. 
NNT and Change Tracker are registered trademarks of New Net Technologies LLC.
All other product, company names and trademarks are the property of their respective owners.