Latest BEC news

Nigerian man pleads guilty to attempted $6 million BEC email heist

Kosi Goodness Simon-Ebo, a 29-year-old Nigerian national extradited from Canada to the United States last April, pleaded guilty to wire fraud and money laundering through business email compromise (BEC).
- Bill Toulas
- September 22, 2023
- 03:24 PM
- 2
W3LL phishing kit hijacks thousands of Microsoft 365 accounts, bypasses MFA

A threat actor known as W3LL developed a phishing kit that can bypass multi-factor authentication along with other tools that compromised more than 8,000 Microsoft 365 corporate accounts.
- Ionut Ilascu
- September 06, 2023
- 06:33 AM
- 2
Sponsored Content
The Current State of Business Email Compromise Attacks

Business Email Compromise (BEC) poses a growing threat to businesses of all sizes. Learn more from Specops Software about the types of BEC attacks and how to avoid them.
- Sponsored by Specops Software
- June 28, 2023
- 10:01 AM
- 0
FBI: Business email compromise tactics used to defraud U.S. vendors

The Federal Bureau of Investigation is warning companies in the U.S. of threat actors using tactics similar to business email compromise that allow less technical actors to steal various goods from vendors.
- Ionut Ilascu
- March 26, 2023
- 12:03 PM
- 1
Australian police arrest four BEC actors who stole $1.7 million

The Australian Federal Police (AFP) has arrested four members of a cybercriminal syndicate that has laundered $1.7 million stolen from at least 15 victims between January 2020 and March 2023.
- Bill Toulas
- March 24, 2023
- 03:49 PM
- 0
Cybercriminals exploit SVB collapse to steal money and data

The collapse of the Silicon Valley Bank (SVB) on March 10, 2023, has sent ripples of turbulence throughout the global financial system, but for hackers, scammers, and phishing campaigns, it's becoming an excellent opportunity.
- Bill Toulas
- March 14, 2023
- 11:55 AM
- 0
Microsoft: Business email compromise attacks can take just hours

Microsoft's Security Intelligence team recently investigated a business email compromise (BEC) attack and found that attackers move rapidly, with some steps taking mere minutes.
- Bill Toulas
- March 09, 2023
- 02:13 PM
- 0
Europol busts ‘CEO fraud’ gang that stole €38M in a few days

Europol has dismantled a Franco-Israeli 'CEO fraud' group that employed business email compromise (BEC) attacks to divert payments from organizations to bank accounts under the threat actor's control.
- Bill Toulas
- February 17, 2023
- 01:18 PM
- 0
FBI warns that BEC attacks now also target food shipments

Organizations in the food sector are now also targeted in business email compromise (BEC) attacks, according to a joint advisory issued by the FBI, the Food and Drug Administration Office of Criminal Investigations (FDA OCI), and the U.S. Department of Agriculture (USDA).
- Sergiu Gatlan
- December 16, 2022
- 01:31 PM
- 0
US charges BEC suspects with targeting federal health care programs

The U.S. Department of Justice (DOJ) has charged ten defendants for their alleged involvement in business email compromise (BEC) schemes targeting numerous victims across the country, including U.S. federal funding programs like Medicare and Medicaid.
- Sergiu Gatlan
- November 18, 2022
- 12:26 PM
- 0
Influencer 'Hushpuppi' gets 11 years in prison for cyber fraud

An Instagram influencer known as 'Hushpuppi' has been sentenced to 11 years in prison for conspiring to launder tens of millions of USD from business email compromise (BEC) scams and various cyber schemes.
- Bill Toulas
- November 08, 2022
- 09:39 AM
- 1
New Crimson Kingsnake gang impersonates law firms in BEC attacks

A business email compromise (BEC) group named 'Crimson Kingsnake' has emerged, impersonating well-known international law firms to trick recipients into approving overdue invoice payments.
- Bill Toulas
- November 03, 2022
- 02:33 PM
- 0
FBI: Hackers steal millions from healthcare payment processors

The Federal Bureau of Investigation (FBI) has issued an alert about hackers targeting healthcare payment processors to route payments to bank accounts controlled by the attacker.
- Ionut Ilascu
- September 14, 2022
- 06:54 PM
- 0
Hackers use AiTM attack to monitor Microsoft 365 accounts for BEC scams

A new business email compromise (BEC) campaign has been discovered combining sophisticated spear-phishing with Adversary-in-The-Middle (AiTM) tactics to hack corporate executives' Microsoft 365 accounts, even those protected by MFA.
- Bill Toulas
- August 24, 2022
- 11:53 AM
- 0
Three Nigerians arrested for malware-assisted financial crimes

Interpol has announced the arrest of three Nigerian men in Lagos, who are suspected of using remote access trojans (RATs) to reroute financial transactions and steal account credentials.
- Bill Toulas
- May 30, 2022
- 11:07 AM
- 0
Interpol arrests alleged leader of the SilverTerrier BEC gang

After a year-long investigation that involved Interpol and several cybersecurity companies, the Nigeria Police Force has arrested an individual believed to be in the top ranks of a prominent business email compromise (BEC) group known as SilverTerrier or TMT.
- Ionut Ilascu
- May 25, 2022
- 09:04 AM
- 2
FBI says business email compromise is a $43 billion scam

The Federal Bureau of Investigation (FBI) said today that the amount of money lost to business email compromise (BEC) scams continues to grow each year, with a 65% increase in the identified global exposed losses between July 2019 and December 2021.
- Sergiu Gatlan
- May 04, 2022
- 12:19 PM
- 0
FBI disrupts BEC cybercrime gangs targeting victims worldwide

A coordinated operation conducted by the FBI and its international law enforcement partners has resulted in disrupting business email compromise (BEC) schemes in several countries.
- Bill Toulas
- March 30, 2022
- 12:13 PM
- 0
FBI warns of BEC attackers impersonating CEOs in virtual meetings

The Federal Bureau of Investigation (FBI) warned today that US organizations and individuals are being increasingly targeted in BEC (business email compromise) attacks on virtual meeting platforms.
- Sergiu Gatlan
- February 16, 2022
- 01:09 PM
- 0
Interpol arrests 11 BEC gang members linked to 50,000 targets

Interpol, in coordination with the Nigerian Police Force, have arrested eleven individuals who are suspects of participating in an international BEC (business email compromise) ring.
- Bill Toulas
- January 19, 2022
- 07:16 AM
- 0