First reported Russian BEC scam gang targets Fortune 500 firms
According to researchers at email prevention company Agari, a new group of threat actors believed to be from Russia has elevated Business Email Compromise scams to a new level. Whereas most BEC attacks are from Nigerian actors who target companies of any size, this new Russian group named Cosmic Lynx focuses exclusively on multinational corporations.
The group demands sums of hundreds of thousands, and in some cases, millions, to be transferred to mule accounts in Hong Kong. Agari stated that the group has already conducted more than 200 BEC attacks since July of 2019, exhibiting operational complexity that surpasses other BEC actors.