Business Email Compromise
Ghanain man pleads guilty to role in $100 million fraud ring
A Ghanaian national pleaded guilty to his role in a massive fraud ring that stole over $100 million from victims across the United States through business email compromise attacks and romance scams. 40-year-old Derrick Van Yeboah pleaded guilty to conspiracy to commit wire fraud on Thursday and agreed to pay more than $10 million in […]
Spain arrests 34 suspects linked to Black Axe cyber crime
Authorities in Spain have arrested 34 individuals allegedly part of a criminal network involved in cyber fraud and believed to be connected to the Black Axe group responsible for illicit activities across Europe. The operation was carried out with the help of the Bavarian State Criminal Police Office and the support of Europol. During searches […]
‘Chairmen’ of $100 million scam operation extradited to US
The U.S. Department of Justice charged four Ghanaian nationals for their roles in a massive fraud ring linked to the theft of over $100 million in romance scams and business email compromise attacks. The defendants were allegedly high-ranking members of a major international fraud ring based in Ghana that targeted companies and individuals across the United States […]
INTERPOL recovers over $40 million stolen in a BEC attack
A global stop-payment mechanism created by INTERPOL successfully recovered over $40 million stolen in a BEC attack on a company in Singapore. INTERPOL says this is the largest recovery of funds stolen through a business email compromise (BEC) scam. BEC scams are a type of cyberattack in which cybercriminals attempt to redirect legitimate corporate payments to an […]