Brief: Argan Inc Says On March 7 Co Determined That Had Been A Victim Of Complex Criminal Phishing Scheme - SEC Filing

Argan

10/03/2023 21:48

March 10 (Reuters) - Argan Inc  AGX.N :
    * ARGAN INC SAYS ON MARCH 7 CO DETERMINED THAT HAD BEEN A
VICTIM
OF COMPLEX CRIMINAL PHISHING SCHEME - SEC FILING
    * ARGAN INC - PHISHING SCHEME RESULTED IN
FRAUDULENTLY-INDUCED
OUTBOUND WIRE TRANSFERS ON MARCH 6 AND MARCH 7 TO A THIRD-PARTY
ACCOUNT
    * ARGAN INC SAYS EXPECTS TO RECORD ONE-TIME PRE-TAX CHARGE
OF
ABOUT $3.0 MILLION FOR UNRECOVERED FRAUDULENT WIRE TRANSFERS
    * ARGAN - SELF-DISCOVERED FRAUDULENT ACTIVITY & CONTACTED
REMITTING BANK, RECEIVING BANK, DISPUTE RESOLUTION EXPERTS,
FEDERAL & LOCAL LAW ENFORCEMENT
    * ARGAN INC - CURRENTLY DOES NOT BELIEVE INCIDENT RESULTED
IN ANY
UNAUTHORIZED ACCESS TO OTHER DATA MAINTAINED BY COMPANY
    * ARGAN INC - CO IN PROCESS OF RETAINING SPECIALIZED LEGAL
COUNSEL, CYBERSECURITY SERVICES FIRM TO ASSIST IN INDEPENDENT
FORENSIC INVESTIGATION
    * ARGAN INC - DOES NOT EXPECT PHISHING INCIDENT TO HAVE
MATERIAL
IMPACT ON BUSINESS OR ITS ABILITY TO SERVICE CUSTOMERS
    * ARGAN INC - ALREADY IMPLEMENTED CERTAIN REDUNDANT
CONTROLS, AND
MAY IMPLEMENT OTHERS IN FUTURE, RELATED TO OUTGOING ELECTRONIC
TRANSFERS OF CASH

Further company coverage:  AGX.N 

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