Ryanair Investigates $5 Million Fraudulent Electronic Transfer

Ryanair Holdings Plc, Europe’s biggest discount carrier, said it’s investigating a fraudulent electronic transfer of less than $5 million.

The transfer was made last week through a Chinese bank, the Dublin-based airline said in a statement today. The funds have been frozen and should be repaid soon, Ryanair said.

The carrier said it has taken steps to ensure a similar transfer can’t be made in future. Ireland’s Criminal Assets Bureau has been asked to assist in partnership with counterparts in Asia, the Irish Times reported earlier.

“As this matter is subject to legal proceedings, no further comment will be made,” Ryanair said.

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