(Courtesy Waterloo Brewing Ltd)

This is not good news for anyone…And we have to ask what “craft” brewery has $2.1 Million to be scammed out of to begin with…even if its founder was being held by terrorists?

Here’s what we know…

Waterloo Brewing Ltd., the largest Canadian-owned brewer in Ontario has lost $2.1-million in a cyber-scam when it was persuaded to wire to a fraudulent third-party account.

Ouch…

In a press release that had to be difficult to write, the Kitchener, Ontario brewery explained that the “sophisticated” attack which happened in early November involved the impersonation of a creditor employee asking for multiple wire transfers.

The company said it initiated an analysis of all other transaction activity across all of its bank accounts, as well as a review of its internal systems and controls that included its computer networks to prevent further attacks.

After discovering the scam, Waterloo Brewing, which launched in 1984 as the Brick Brewing Company, initiated an analysis of all other transaction activity across all of its bank accounts, as well as its computer networks.

The publicly held company does not believe that its systems were breached, or that any personal information of its customers is at risk. So there’s that…

The company which claims to be Ontario’s first craft brewery has notified all the appropriate authorities regarding the breach (Yah think?) including the Canadian Police, the Financial Transactions and Reports Analysis Centre of Canada and the United States’ Finance Crimes and Enforcement Network.

Waterloo Brewing also went on to say that is working to recover the money…And all we can say is good luck with that.