Remove 2019 Remove Accountability Remove Cybercrime Remove Social Engineering
article thumbnail

Mastermind: Social Engineering, BEC Attacks, Millions in Cash and Crypto

SecureWorld News

That's because Ghaleb Alaumary motivated teams of criminals to commit cybercrime, financial crime, and to collectively steal tens of millions of dollars. Cybercrime ringleader confesses to conspiracies. Business email compromise scheme and social engineering. Social engineering—in person—was the next part of the scheme.

article thumbnail

Account Takeover: What is it and How to Prevent It?

Identity IQ

What is Account Takeover? Account takeover, also known as ATO, is a form of identity theft in which a malicious third party gains access to or “takes over” an online account. It’s one of the fastest-growing cybersecurity threats today, growing a staggering 300% since 2019 and leading to consumer losses of $3.5

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

An odd kind of cybercrime: Gift vouchers, medical records, and.food

Malwarebytes

According to Brighton and Hove news , his spree began in 2019 with the initial purchase of a laptop from Amazon, bought with “fake Honey gift vouchers” I would love to know more about how this initial foray into system compromise worked, as one would imagine purchasing anything with fake vouchers would be a bit of a tall order.

article thumbnail

State of Cybercrime 2020: FBI Report

SecureWorld News

The FBI notes that the Internet Crime Complaint Center (IC3) has been key to its mission to track cybercrimes. The IC3 "provides the public with a trustworthy source for information on cyber criminal activity," and also is a useful tool for victims to report a cybercrime. Business Email Compromise 2020. IC3's Recovery Asset Team (RAT).

article thumbnail

BEST PRACTICES: Mock attacks help local agencies, schools prepare for targeted cyber scams

The Last Watchdog

This can make them particularly susceptible to social engineering trickery, the trigger for online extortion and fraud campaigns, Bastable told me. BEC campaigns accounted for an estimated $26 billion in cybercrime-related losses reported to the FBI over a three year period. The total stolen: $2.3 It’s simple fraud.”

Scams 147
article thumbnail

You’ve Never Heard of the C-Suite Targeting Scam, but It’s a Killer

Adam Levin

The Federal Bureau of Investigation’s 2019 annual Internet Crime Report included 467,361 complaints about suspected internet crime with losses of $3.5 billion, or roughly half, of the total losses in 2019 were attributed to generic email account compromise (EAC) complaints. The back of the napkin math isn’t pretty.

Scams 130
article thumbnail

Operation Falcon: Group-IB helps INTERPOL identify Nigerian BEC ring members

Security Affairs

Group-IB supported an INTERPOL-led operation Falcon targeting business email compromise cybercrime gang from Nigeria, dubbed TMT. Group-IB , a global threat hunting and intelligence company, supported an INTERPOL-led operation Falcon targeting business email compromise (BEC) cybercrime gang from Nigeria, dubbed TMT by Group-IB.