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Business email compromise: gunning for goal

The evergreen peril of business email compromise (BEC) finds itself in the news once more. This time, major English Premier League football teams almost fell victim to their trickery, to the tune of £1 million. First half: fraudsters on the offensive Somebody compromised a Managing Director’s email after they logged into a phishing portal via bogus ema
Publish At:2020-08-06 04:45 | Read:40 | Comments:0 | Tags:Cybercrime Social engineering bec business cybersecurity Bus

Sports team nearly paid a $1.25m transfer fee… to cybercrooks

byPaul DucklinIf you were about to spend more than a million dollars, how careful would you be about where you sent the money?More importantly, how would you check with the recipient of the money – and how would they check with you – that both ends of the transaction were lined up correctly, with no treachery in between?It’s quite likely yo
Publish At:2020-07-23 14:46 | Read:143 | Comments:0 | Tags:BEC Cybercrime fraud Hushpuppi NCSC

Cosmic Lynx: The Highly-Professional Cybercrime Gang Scamming Businesses Out of Millions of Dollars

Things just got serious.Business Email Compromise is no longer solely the province of chancers and opportunistic Nigerian actors such as the Yahoo Boys. Organised criminal gangs with a high level of professionalism have seen the opportunity and seized it.Security researchers at Agari have published a report detailing their investigations into a Russian cyber
Publish At:2020-07-09 09:59 | Read:248 | Comments:0 | Tags:Featured Articles IT Security and Data Protection BEC Cosmic

Nigerian National Extradited to United States on BEC Scam Charges

A Nigerian national entered into the custody of the FBI to face charges of having targeted several U.S. companies with business email compromise (BEC) scams.On July 3, the U.S. Attorney’s Office for the Northern District of Illinois announced that the United Arab Emirates had expelled Olalekan Jacob Ponle (a/k/a “Mr. Woodbery” and “Mark Kain”), 29, ori
Publish At:2020-07-07 11:39 | Read:143 | Comments:0 | Tags:IT Security and Data Protection Latest Security News BEC ema

Flashy Nigerian Instagram star extradited to US to face BEC charges

byLisa VaasThe US has dragged a fancy-pants, Instagram-star, high-fashion-flaunting, alleged Nigerian scammer out of the United Arab Emirates (UAE) and into Chicago to face charges that he helped launder beaucoup bucks gouged out of businesses in email compromise (BEC) scams. His name is Ramon Olorunwa Abbas, aged 37, also known as “Ray Hushpuppi̶
Publish At:2020-07-07 06:05 | Read:178 | Comments:0 | Tags:Law & order BEC business email compromise celebrity extradit

Twitter apologizes for leaking businesses’ financial data

byLisa VaasTwitter apologized on Tuesday for sticking business clients’ billing information into browser cache – a spot where the uninvited could have had a peek, regardless of not having the right to see it.In an email to its clients, Twitter said it was “possible” that others could have accessed the sensitive information, which incl
Publish At:2020-06-25 07:17 | Read:148 | Comments:0 | Tags:Data loss Privacy Security threats Twitter advertising platf

Operation In(ter)reception targets Military and Aerospace employees in Europe and the Middle East

Experts uncovered a new cyber-espionage campaign, dubbed “Operation In(ter)reception,” aimed at aerospace and military organizations in Europe and the Middle East. Security experts from ESET uncovered a new sophisticated cyber-espionage campaign, dubbed “Operation In(ter)reception,” aimed at aerospace and military organizations in
Publish At:2020-06-17 09:26 | Read:199 | Comments:0 | Tags:APT Breaking News Cyber Crime Cyber warfare Hacking Intellig

Data breach leads to the theft of $10M from a Norwegian investment fund

Data breaches lead to a multitude of different costs, both direct and indirect. The immediate financial impact may involve fines imposed by data protection authorities, such as those related to the GDPR. But there are also costs that have a more medium term, indirect impact. In fact, the largest cost from a data breach is the loss of business caused by reput
Publish At:2020-06-09 10:31 | Read:306 | Comments:0 | Tags:Business News b2b bec data breach Scam

The scammer who tried to launder over $500,000 through Business Email Compromise

A 64-year-old man has pleaded guilty in a Texan court to charges of money laundering after a series of attacks that defrauded companies out of hundreds of thousands of dollars.Kenenty Hwan Kim (who sometimes went by the name Myung Kim) took advantage of a simple trick that has proven highly effective to fraudsters in recent years.The method of tricking busin
Publish At:2020-06-04 12:13 | Read:245 | Comments:0 | Tags:Featured Articles IT Security and Data Protection BEC BEC sc

Lock and Code S1Ep7: Sounding the trumpet on web browser privacy with Pieter Arntz

This week on Lock and Code, we discuss the top security headlines generated right here on Labs and around the Internet. In addition, we talk to Pieter Arntz, malware intelligence researcher at Malwarebytes, about web browser privacy—an often neglected subcategory of data privacy. Without the proper restrictions, browsers can allow web trackers to follow
Publish At:2020-05-26 14:44 | Read:206 | Comments:0 | Tags:Malwarebytes news Podcast Android spyware bec best MSP pract

Coronavirus: Europol arrests man behind €6M face masks and hand sanitisers scam

While crooks continue to exploit the Coronavirus outbreak, the Europol announced to have arrested a man involved in COVID19 business scams. The Europol announced the arrest of a 39-year old man that is allegedly involved in Business email scam (BEC) connected to the current Coronavirus outbreak.  The man has been arrested early this week in Singap
Publish At:2020-04-07 12:29 | Read:439 | Comments:0 | Tags:Breaking News Cyber Crime BEC coronavirus covid19 hacking ne

Lock and Code S1Ep2: On the challenges of managed service providers

This week on Lock and Code, we discuss the top security headlines generated right here on Labs and around the Internet. In addition, we talk to two representatives from an Atlanta-based managed service provider—a manager of engineering services and a data center architect—about the daily challenges of managing thousands of nodes and the future of the industr
Publish At:2020-03-16 14:22 | Read:682 | Comments:0 | Tags:Podcast bec conficker coronavirus fingerprint files MSP phis

Noooo, now Ancient Tortoise BEC scammers are launching Coronavirus-Themed attacks

A cybercrime gang focused on Business Email Compromise (BEC) has started using coronavirus-themed scam emails in its attacks. While the Coronavirus is spreading worldwide cybercriminals and nation-state actors are launching COVID19-themed attacks on a global scale. Most of the attacks aimed at spreading malware to control victims’ computers and s
Publish At:2020-03-15 09:31 | Read:606 | Comments:0 | Tags:Breaking News Cyber Crime BEC coronavirus COVID-19 Hacking h

Watch out for Office 365 and G Suite scams, FBI warns businesses

byJohn E DunnThe menace of Business Email Compromise (BEC) is often overshadowed by ransomware but it’s something small and medium-sized businesses shouldn’t lose sight of.Bang on cue, the FBI Internet Crime Complaint Center (IC3) has alerted US businesses to ongoing attacks targeting organisations using Microsoft Office 365 and Google G Suite.Warnings
Publish At:2020-03-10 10:50 | Read:590 | Comments:0 | Tags:BEC Google Microsoft Security threats business email comprom

APWG Year-End Report: 2019 A Roller Coaster Ride for Phishing

<p>The latest Phishing Activity Trends Report from the Anti-Phishing Working Group (APWG), which compiles insights from member companies, announced that the year-end number of reported phishing websites for 2019 reached a record high. Most menacing; however, are the trends of phishing gangs targeting users of web-hosted email, social media, and busines
Publish At:2020-03-03 17:11 | Read:512 | Comments:0 | Tags:APWG BEC https social media

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