Business Email Compromise Archives

Pierluigi Paganini November 04, 2024

Nigerian man Sentenced to 26+ years in real estate phishing scams

Nigerian Kolade Ojelade gets 26 years in U.S. for phishing scams that stole millions by hacking email accounts. A Nigerian national was sentenced to 26 years in prison in the US for stealing millions by compromising the email accounts of real estate businesses. The Nigerian national, Kolade Ojelade, Kolade Akinwale Ojelade (34), a resident of […]

Pierluigi Paganini September 25, 2023

Nigerian National pleads guilty to participating in a millionaire BEC scheme

A Nigerian national pleaded guilty to wire fraud and money laundering through business email compromise (BEC). The Nigerian national Kosi Goodness Simon-Ebo (29), who is residing in South Africa, pleaded guilty to conspiracy to commit wire fraud and conspiracy to commit money laundering through business email compromise (BEC). According to the US authorities, fraudulent activities […]

Pierluigi Paganini June 14, 2021

Microsoft experts disrupted a large-scale BEC campaign

Microsoft disrupted a large-scale business email compromise (BEC) campaign that used forwarding rules to access messages related to financial transactions. Microsoft researchers announced to have disrupted the cloud-based infrastructure used by crooks in a recent large-scale business email compromise (BEC) campaign. The attackers breached the mailboxes of the victims using phishing messages, then exfiltrated sensitive […]

Pierluigi Paganini May 09, 2020

SilverTerrier gang uses COVID-19 lures in BEC attacks against healthcare, government organizations

Nigerian cyber gang SilverTerrier, specialized in BEC attacks, used COVID-19 lures in recent attacks on healthcare and government organizations. Researchers at Palo Alto Networks observed a Nigerian cyber gang, tracked as SilverTerrier and specialized in BEC attacks, using COVID-19 lures in a recent wave of attacks on healthcare and government organizations. SilverTerrier has been active since […]

Pierluigi Paganini June 12, 2018

Operation WireWire – Law enforcement arrested 74 individuals involved in BEC scams

US authorities announced the arrest of 74 individuals as part of an international law enforcement operation dubbed ‘operation WireWire’ targeting BEC scams. On Monday, the U.S. authorities announced the arrest of 74 individuals as part of an international law enforcement operation dubbed ‘operation WireWire’ targeting business email compromise (BEC) scams. The authorities conducted the investigation for over […]

Pierluigi Paganini May 07, 2017

Business email compromise (BEC), the 5 billion dollar scam

The Federal Bureau of Investigation report reveals that Business email compromise scams caused losses to businesses for 5 billion dollars over four years. Business email compromise (BEC) continues to be a profitable attack technique for crooks and a serious threat to businesses. The FBI has published data related to this specific criminal practice, and financial […]

Pierluigi Paganini April 17, 2016

American company lost $100 million to BEC fraud

US prosecutors confirmed on Thursday that an American firm lost nearly $100 million in a BEC (business email compromise) scam. The Reuters Agency reported that an unidentified American company was the victim of a clamorous email fraud, scammers have stolen from the firm nearly $100 million. According to the US authorities, fraudsters used a fake […]

Pierluigi Paganini March 20, 2016

Olympic Vision BEC attacks target businesses worldwide with keyloggers

Trend Micro discovered a Business Email Compromise Campaign leveraging on the Olympic Vision keylogger that targets Middle East and Asia Pacific Companies. A new malware-based campaign is targeting key employees from companies in the US, Middle East and Asia. The attackers are using malware in a classic business email compromise (BEC) attack in order to […]

Pierluigi Paganini February 01, 2015

IC3 and FBI warn about Business Email Compromise aka Wire Payment Scam

IC3 and FBI warn about a significant increase of cases related to Business Email Compromise, nearly 2,000 individuals were victims of a wire payment scam. According to an online statement from the Internet Crime Complaint Center (IC3) and the FBI, nearly 2,000 individuals were victims of a wire payment scam that was extended to 45 countries and […]