An international cybercriminal operation responsible for millions of dollars in business email compromise (BEC) scams has finally been dismantled.
According to Europol, "Five action days took place between January 2022 and 2023 in France and Israel, leading to eight house searches and eight arrests, including the alleged Israeli gang leader".
This group primarily targeted victims in France, with one particular case stealing over $500,000 via wire transfer. Per Europol, the investigation revealed that money mules were operating for the gang in various sections of Europe.
We've previously discussed how BEC attacks are one of the most costly types of attacks for organizations, with one example of a group responsible for stealing nearly $12 million from 12 companies via BEC scams.
The genesis of these types of attacks start with social engineering. Hackers will do everything in their power to trick your users into sharing confidential information with them. That's why end-user education such as new-school security awareness training is so important for your organization. The sooner your users learn how to spot these types of attacks, the less risk your organization could face.
CEO fraud has ruined the careers of many executives and loyal employees, causing over $26 billion in losses. Don’t be the next victim. This manual provides a thorough overview of how executives are compromised, how to prevent such an attack and what to do if you become a victim.
