Tax Business Analyst Associate

PE firms targeted in wave of social-engineering cyberattacks. * August 7, 2026 * - 9:08 am US private equity firms including Blackstone, Apollo Global Management, KKR, Bain Capital, TPG and Clearlake Capital have been among more than 200 companies targeted in a recent cyberattack campaign, according to a report by Reuters. The report cites data from Google and internet intelligence researchers as revealing that the campaign has focused on stealing employee credentials through highly targeted social-engineering attacks, highlighting the vulnerability of financial firms even as they invest heavily in more sophisticated cybersecurity systems. Other financial institutions identified among the targets include Bridgewater Associates, CME Group and Moody's, while hedge funds including Point72 Asset Management, Two Sigma Investments and Citadel were also reportedly targeted. Google's Threat Intelligence Group said the hackers have recently shifted their attention towards private equity firms, law firms and financial ratings agencies, with the attackers apparently selecting targets based on their ability and willingness to pay a ransom. The campaign has operated under several aliases, including Redact, Pink, Falcon and Helix. Google said the groups appear to share infrastructure, although their exact relationships and identities remain unclear. Rather than relying on highly sophisticated technical exploits, the attackers have used phone calls and impersonated corporate IT help desks to persuade employees to surrender credentials. Targets were contacted on personal mobile phones and told that they needed to urgently update passkeys or multi-factor authentication credentials. In some instances, the attackers were able to make the incoming call appear to originate from the company's genuine help desk number. Employees were then directed to fraudulent websites designed to resemble corporate authentication or support pages. If a target entered their password, the hackers could capture the one-time authentication code generated by an app or sent via text message while remaining on the phone with the victim. This allowed them to take control of the account before ending the call. Austin Larsen, a principal threat analyst at Google's Threat Intelligence Group, said the approach was less technically sophisticated than it was effective. The campaign demonstrates how the human element can remain a significant vulnerability for private equity firms, which hold sensitive information on portfolio companies, investment strategies, transactions and financial data. Google identified 72 malicious websites associated with the campaign, while analysis by Reuters found that many were customised for individual companies. The attackers are understood to have created digital traps targeting more than 200 businesses over a five-week period. Targets extended beyond financial services to include Uber, Zillow, Levi Strauss and law firms such as Paul Hastings and Greenberg Traurig. The campaign appears to have evolved over time, with the attackers initially targeting a broad range of businesses before increasing their focus on financial institutions. Google said some companies had paid ransoms following successful attacks, although it was not possible to establish which organisations had been compromised or paid. Several of the private equity firms named in the data reportedly declined to comment, while others did not immediately respond to requests for information.

WTS UK appoints Sharmila Sanmugam as partner. Former Apollo Global Management tax director to lead firm's international tax practice Quick Poll What is your biggest operational challenge right now? One click - no sign-up All data is anonymised. Polling helps Accountancy Group better understand the Accountancy Today audience and tailor its editorial. WTS UK has appointed Sharmila Sanmugam as partner to lead the development of its international tax practice. Sanmugam joins the non-audit tax advisory firm from Apollo Global Management, where she spent almost eight years as director of tax, leading the company's international tax function and overseeing complex cross-border tax matters. She brings experience managing global adviser networks and working with senior stakeholders across finance, legal and compliance functions. Prior to joining Apollo, Sanmugam was tax manager at CBRE UK. Earlier in her career, she worked in Deloitte UK's Financial Services Tax team as an assistant manager and completed a secondment as a tax adviser at Merrill Lynch. WTS UK is a non-audit tax advisory firm providing tax services to large and listed businesses and forms part of the international WTS network, which is headquartered in Munich. Jeff Soar, chief executive and founder of WTS UK, said: "We are excited to welcome Sharmila to the firm. Her experience across in-house and advisory roles, together with her deep understanding of international tax and global compliance, will be invaluable - both to our clients and to our team, as we continue to build a firm that delivers tax advice differently." Sanmugam added: "The tax industry is ready for something different, and I'm excited to be joining a firm purpose-built to deliver it. I'm looking forward to bringing my international experience to the team and helping our clients navigate an increasingly complex global tax environment." Published: 1m ago

Britain's EasyJet flies into US hands as takeover confirmed. By AFP | 19:19 August 6, 2026 | LONDON - Britain's no-frills airline EasyJet confirmed Thursday a £5.7-billion ($7.7-billion) takeover by US private equity firm Apollo after a rival American firm pulled out of the bidding. "The boards... are pleased to announce that they have reached agreement on the terms and conditions of a recommended cash acquisition," EasyJet, which flies mainly across Europe, said in a statement. Earlier Thursday, US investment group Castlelake said it did not intend to make a higher offer for the carrier, having proposed to buy the airline for a little over £5 billion. Under UK takeover rules, the two firms had until Friday to table revised bids. "Castlelake confirms that, following careful consideration, it does not intend to make an (improved) offer for EasyJet," the US group said in a statement Thursday. EasyJet last month said that Apollo's informal bid, valued also at £5.7 billion, delivered a "superior outcome" for shareholders compared to the Castlelake proposal. Apollo, which manages more than $1 trillion in assets worldwide, is no newcomer to the aviation sector, having invested in Aeromexico, Sun Country Airlines and Atlas Air - and provided financing to Air France-KLM and Virgin Atlantic. As a foreign entity, it is unable to take full ownership of the airline outright owing to UK and European rules requiring firms to be majority owned and controlled by regional nationals. However, the US firm had confirmed it would take necessary steps to find a European partner. EasyJet recently said its net profits had plunged in the third quarter as the Middle East war sent jet fuel prices soaring. Profit before tax slumped 70 per cent to £85 million in the April-June period compared to one year earlier. EasyJet was founded by entrepreneur Stelios Haji-Ioannou in the 1990s as Europe's budget airline sector took off. Irish airline Ryanair is Europe's biggest carrier by passenger numbers.