Philip Hinks represented CMOC Sales & Marketing Limited, the victim of a highly sophisticated cyber fraud attack.
In October 2017, CMOC discovered it was the victim of a business email compromise fraud pursuant to which the perpetrators had hacked into its email system and caused its bank to pay approx. US$10m of CMOC’s money to twenty different accounts around the world.
Upon discovery of the fraud, CMOC successfully obtained a WFO against ‘Persons Unknown’. This is understood to be the first occasion on which such an order has been made. CMOC proceeded to use the Bankers Trust v Shapira jurisdiction to obtain disclosure from the various banks to which its stolen monies had been transferred, thereby tracing the funds and identifying the individuals behind the fraud.
At trial, around 30 (then) identified defendants were found liable to CMOC in dishonest assistance, knowing receipt and unlawful means conspiracy, and judgment was entered in the full sum of CMOC’s loss.
A copy of HHJ Waksman QC’s judgment (sitting as a Judge of the High Court), which were formally released today, may be found here.
Philip Hinks was led by Paul Lowenstein QC (20 Essex Street) in this matter.