CyberNews Briefs

Big BEC Bust Brings Down Dozens

Federal officials have arrested two dozen individuals as part of a business email compromise scheme that has cost victims $30 million in total. The individuals were arrested on charges related to fraud and money laundering schemes. Most of the individuals reside in Atlanta, Georgia, and are alleged to have committed fraud against individuals and companies using romance fraud scams, retirement account scams, and multiple others.

The Justice Department stated that the 12 arrested this past week join 17 individuals who were previously placed in federal custody in relation to the alleged crimes. The individuals are accused of laundering money through accounts opened in victims’ names, using them both to defraud the victim and launder the criminal proceeds.

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