TRIESTE – The Viktor Lenac shipyard, controlled by Italy’s Palumbo Group, has fallen victim to a fraud that caused a loss of around 8.9 million euros.
According to several Croatian media outlets, the incident dates back to a payment operation linked to business relations with a foreign partner. The transfer was allegedly made to a bank account indicated in communications that later proved to be fraudulent, attributable to a “business email compromise” attack, a technique involving the manipulation of communications between companies in order to divert payments.
According to the Croatian newspaper Novi List, which yesterday provided some details of the case, credible emails were allegedly sent with new bank details, presented as an update. The payment, linked to a real transaction, was therefore diverted to accounts controlled by the fraudsters.
The stolen amount was reportedly transferred in several tranches. The fraud allegedly worked because the communications were consistent with ongoing negotiations and therefore did not raise immediate suspicions. The scam was discovered only at a later stage, when the actual recipient reported that the payment had not been received.
The company has confirmed the incident and has launched internal procedures to clarify responsibilities and strengthen its control systems. The competent authorities have also been involved and are conducting investigations to reconstruct the dynamics of the operation and identify those responsible. The stolen amount, close to nine million euros, represents a significant figure even for an industrial group the size of Viktor Lenac, which specialises in ship repairs and conversions and operates near Rijeka.
In recent weeks, the shipyard appointed Luka Hrboka as the new chairman of the Management Board, opting for an internal solution after a difficult period. The appointment came after two closely spaced events: the emergence of unauthorised financial transactions — the likely cyber fraud — and the sudden resignation of the previous chairwoman, Sandra Uzelac.
Hrboka, who has been with the company since 2009, represents a choice of continuity. He will remain in office until next March and will work with a reduced management board, which also includes Francesco Ciaramella representing the Palumbo Group, the majority shareholder.
In economic terms, in 2025 the shipyard recorded revenues of 99 million euros and a profit of 4.7 million, supported by complex contracts in the military and cruise segments.
