21 Nov 2022

Ten Charged in $11m Healthcare BEC Plots

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

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29 Jul 2022

European Police Arrest 100 Suspects in BEC Crackdown

A recent announcement from the European police revealed that the security force conducted two major operations against business email compromise (BEC) fraudsters, leading to the arrests of almost 100 suspects. Although the campaigns were only recently made public, the crackdowns occurred in November of 2021. The police campaigns have been

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06 Apr 2022

South African and US Officers Swoop on Fraud Gang

American and South African investigators have teamed up to crack down on fraud that is persistent in the latter country, recently arresting several members linked to a suspected fraud gang. The individuals arrested consisted of three South Africans and four Nigerians, and are believed to be linked to an infamous

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29 Nov 2021

1,000 arrests made in online fraud crackdown, says Interpol

According to a report from Interpol, 1,003 cybercriminals spanning 22 jurisdictions were arrested over the past few months as part of an Interpol-coordinated operation against online financial crimes. Law enforcement across 20 different nations conducted raids and made arrests between June and September. The operation targeted those involved with forms

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01 Jul 2021

Impersonation Becomes Top Phishing Technique

New research by Avanan reveals that impersonation and credential harvesting attacks are the most common among phishing attackers this year. Avanan’s 2021 Global Phish Cyber Attack Report found that credential harvesting is used in over half of all phishing attacks, up nearly 15% since 2019. Researchers at Avanan also found

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04 Feb 2021

Microsoft Sees Spike in BEC Attacks Targeting Schools

On Tuesday, Microsoft published a series of posts to Twitter warning of a visible uptick in BEC attacks targeting K-12 school teachers. This time, the operators behind the BEC attacks are impersonating teachers’ colleagues with gift-card themed emails. According to Microsoft Security Intelligence, the attackers create fake email accounts impersonating

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17 Dec 2020

BEC Hits Double Digits as COVID-19 Scams Abound

According to Barracuda Networks, business email compromise attacks have surged in 2020, alongside Covid-19 related scams seeking to lure victims into surrendering passwords or money. During the period of August to October 2020, Barracuda Networks found that the total number of targeted email threats was a whopping 2.3 million. Spear

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02 Dec 2020

Criminals to Favor Ransomware and BEC Over Breaches in 2021

Cyber-criminals will likely shift their focus from personal data collection to phishing and ransomware in 2021, according to the Identity Theft Resource Center (ITRC). Rather than targeting large companies and attempting to breach their networks to steal sensitive data, likely to sell on dark web forums, threat actors will increasingly

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02 Dec 2020

FBI warns of email forwarding rules being abused in recent hacks

The US FBI released a Private Industry Notification (PIN) last week claiming that cybercriminals are exploiting email forwarding rules to maintain anonymity and hide their presence on hacked email accounts. The PIN was made public yesterday and contains valuable information about how the technique is being actively used in recent

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30 Nov 2020

Three Nigerians Arrested for Cybercrime Operation Targeting 150 Countries

In Lagos, Nigeria, three Nigerian nationals were arrested for their involvement in a widespread Business Email Compromise (BEC) campaign. The three men were also allegedly involved with a large organized crime group known as TMT, which is known to be involved in cybercrime such as phishing attacks, malware distribution, and

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