New reports of major project security breach have swarm the internet after a shipping company with offices in Limassol claimed that over half a million dollars was swiped away from one of its logistics transactions.

Early reports suggest that the hackers misled the employees into thinking that they are representing their fuel supplier client and persuaded them to deposit the payment into an account in Poland rather than the one initially agreed upon.

Roughly $644,000 was taken and authorities have already requested the money be frozen while investigation is underway.

The cost-effectiveness of every company largely depends on efficient operations and secured transactions. Though it is a huge task to entirely protect your system from professional hacking teams, instigating security procedures can undoubtedly decrease the likelihood of your system being hacked.

This is why X2 Group has developed the X2 Pay. X2 Pay is a unique company-to-company financial transaction system intended specifically to facilitate instantaneous payments between members of the X2 Group.

Launched in July, X2 Pay is exclusive for X2 Members only. It decreases transaction costs between members while simultaneously providing speed and maximum security in every operation.

Whether you are operating a minor business or a huge corporation, data loss and security breach can be a major setback. Hence, use the right tools, implement security measures, execute protocols and make sure to transact with the right agents. Above all, awareness and action can be your best solutions against fraud risks and vulnerability.

Read X2 Elite blog and be informed!