Cybercrime Incident Hits Premier Fishing, a Subsidiary of AEEI

Premier Fishing and Brands Limited, a subsidiary of African Equity Empowerment Investments Limited (AEEI), has been embroiled in a cybercrime incident resulting in significant financial loss. The incident, which occurred around 15 November 2023, saw a staggering $820,000 fraudulently transferred from Premier Fishing’s bank account to an unknown third party.

Immediate Response and Investigation

Premier Fishing wasted no time in responding to the cyberattack. The company swiftly reported the incident to the South African Police Services and initiated internal investigations to ascertain the extent of the breach and identify those responsible.

Negligence Uncovered

In the course of the internal investigations, Premier Fishing discovered instances of negligence within its leadership. Following thorough scrutiny and disciplinary proceedings, the Chief Executive Officer (CEO) of Premier Fishing was found guilty of negligence. Consequently, appropriate disciplinary actions have been taken in accordance with the company’s protocols.

Recovery Efforts Underway

Despite the setback, Premier Fishing and its parent company, AEEI, are resolute in their efforts to recover the misappropriated funds. The board of directors of AEEI has pledged to explore all available avenues to retrieve the lost funds and mitigate any further risks posed by the cyberattack.

Ongoing Commitment to Shareholders

Acknowledging the importance of transparency and accountability to its shareholders, AEEI remains committed to providing regular updates on the situation. Shareholders can expect further communication as developments unfold in the recovery process.

Conclusion

The cybercrime incident at Premier Fishing serves as a stark reminder of the persistent threat posed by cybercriminals to businesses of all sizes. Despite the challenges posed by such attacks, Premier Fishing and AEEI are determined to overcome this setback and emerge stronger. The company’s proactive response and commitment to addressing the issue demonstrate its dedication to safeguarding shareholder interests and maintaining trust in its operations.