Ten individuals have been charged with participation in business email compromise (BEC) attacks and money laundering, according to the Department of Justice. The charges were brought against seven individuals in Georgia and South Carolina who would use stolen identified to open bank accounts in the name of shell companies. The campaign allegedly defrauded Medicaid, Medicare, and other private health insurance programs of over $11 million.
The Department of Justice stated that five state Medicaid programs, two Medicare administrative contractors, and two private health insurers were conned by the individuals as a part of the money laundering and BEC campaign. Some of the stolen funds were used to buy luxury goods and automobiles, other funds were laundered by the other three individuals charged in the filing. The laundered money was run through bank accounts registered with stolen or fake identities and set up under shell companies’ names. One of the individuals charged has already been tried, pleading guilty to conspiracy to commit money laundering and use of a false passport.
Read More: Ten Charged in $11m Healthcare BEC Plots
