Software Circle fully recovers £0.43m after suspected payment fraud
By Josh White
Date: Tuesday 27 May 2025
(Sharecast News) - Software Circle confirmed the full recovery of £0.43m on Tuesday, following a suspected authorised push payment fraud affecting one of its operating units.
The AIM-traded company credited the successful outcome to swift internal action, close cooperation with its bank, and the involvement of relevant authorities.
It said the incident was isolated to a single unit, adding that there was no evidence of any breach to the group's systems or data.
Software Circle said it was continuing to maintain a strong financial position and reiterated its commitment to strengthening internal controls to guard against future incidents.
The group said it would provide a trading update later in the week regarding its financial results for the year ended 31 March.
At 1022 BST, shares in Software Circle were up 3.64% at 29.02p.
Reporting by Josh White for Sharecast.com.
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