Collaborate Disseminate
A coordinated effort between multiple agencies arrested suspects in Nigeria, the U.S. and eight other countries as well as seized nearly $3.7 million. Continue reading Feds Indict 281 People for Involvement in Massive E-Mail Fraud Scheme
The U.S. Department of Justice has announced the arrests of 281 people and the seizure of nearly $3.7 million in connection with a four-month investigation into business email compromise scams. Prosecutors on Tuesday detailed the results of an elaborate interagency probe into BEC scams, which occur when thieves impersonate a trusted co-worker, lover or other associate in order to convince a victim to send them money or personal information. Among the accused are a group of alleged scammers who defrauded a community college out of $5 million from Illinois, two men in Texas who prosecutors say used 12 fictitious identities to steal and launder more than $3 million, and a Florida crime ring that relied on 18 money mules to launder $950,000. Seventy-four people were taken into custody in the U.S, while there were also 167 arrests in Nigeria, 18 in Turkey, 15 in Ghana, and more in France, Italy, the […]
The post U.S. arrests 281 people worldwide accused of involvement in BEC scams appeared first on CyberScoop.
Continue reading U.S. arrests 281 people worldwide accused of involvement in BEC scams
AIG, one of the largest insurance companies in the world, has issued a report which reveals that there is a new leader in the list of top threats causing losses for businesses.
Read more in my article on the Bitdefender Business Insights blog.
Continue reading The top reason businesses make a cyber insurance claim – Business Email Compromise
Bank of America, BBVA Compass, CalCom FCU, Capital One, Citibank, Citizens Bank, Comerica, Chase Bank, PNC Bank, Regions Bank, SunTrust, TD Bank, US Bank, and Wells Fargo Bank were among the financial institutions who were scammed by the 80 Nigerian … Continue reading Los Angeles Court charges 80 Nigerians with BEC and Romance Scam Crimes
Employees at Portland Public Schools were breathing easier this week after thwarting a business email compromise (BEC) scam that could have cost them almost $3m. Continue reading Quick thinking by Portland Public Schools stops $2.9m BEC scam
The U.S. Department of Justice on Thursday unsealed charges against 80 people for their alleged involvement in email scams that defrauded victims out of at least $6 million and attempted to steal another $40 million. The indictment, initially filed on June 27, lays out a complex web of money laundering, identity theft and internet fraud campaigns, including alleged business email compromise (BEC) and romance scams. Most of the defendants are based in Nigeria, though others, including 14 people arrested on Thursday, were located in the U.S. The 145-page indictment includes more than 400 “overt acts” outlining an email fraud scheme in more detail than perhaps any other indictment in recent memory. “Today, we have taken a major step to disrupt criminal networks that use BEC schemes, romance scams and other frauds to fleece victims,” U.S. Attorney Nick Hanna said in a statement. “This indictment sends a message that we will […]
The post Blockbuster indictment against 80 fraud suspects details a complex global scam operation appeared first on CyberScoop.
Obinwanne Okeke: The Entrepreneur
Obinwanne Okeke, 31 year old CEO and Founder of Invictus Group, is frequently lauded as a success story. At age 28, Forbes Africa featured him in their June 2016 issue under the title “Africa’s Most Promising En… Continue reading Lauded Nigerian Entrepreneur may be a BEC Yahoo Boy
As security practices evolve, cybercriminals are finding new methods to carry out their attacks. Using highly personalized email attacks, carefully designed spear phishing attacks are being used to steal sensitive information such as login credentials… Continue reading Protecting Against Spear Phishing Attacks: A Guide
The county could only claw back some of the $2,504,601 it paid to a scammer posing as a contractor working on building a new high school. Continue reading North Carolina county falls for BEC scam, to the tune of $1,728,083
Fraudsters are attempting to steal much more money through Business Email Compromise than previously believed.
Read more in my article on the Bitdefender Business Insights blog.
Continue reading Fraudsters are trying to steal $8.7 million every single day through Business Email Compromise