Tag: CyberCrime & Doing Time

$50 Million in BEC Losses

2024-06-25 19:06

The Eastern District of New York has announced charges against four men for their roles in a Business Email Compromise (BEC) and romance scams. https://www.justice.gov/usao-edny/pr/four-individuals-charged-connection-business-email-compromise-schemes-and-related-0 The US Attorney’s Office press release states: Defendants Allegedly Participated in Fraudulent Schemes That Resulted…

Millions and Millions of Fraud Domains: China attacks Illegal Gambling and Telecom Fraud

2024-06-24 16:06

Last week I was reviewing a publication by the United Nation Office on Drugs and Crime published in January 2024, titled “Casinos, Money Laundering, Underground Banking, and Transnational Organized Crime in East and Southeast Asia: A Hidden and Accelerating Threat.”…

BEC Scammers Adventures on the Run

2024-03-26 20:03

Last week the case of Valentine FOMBE was finally brought to a close. FOMBE was sentenced to 144 months in Federal prison and ordered to pay $325,856 in restitution to victims of Business Email Compromise scams that he conducted from…

Maryland Busts $9.5 Million #BEC Money Laundering Ring

2024-02-20 08:02

Three indictments have been unsealed in Maryland that document an extensive network of shell companies that were used to wash at least $9.5 Million in funds from at least fifteen #BEC (Business Email Compromise) cases across the country. In…

Identification Documents: an Obsolete Fraud Countermeasure

2024-02-11 00:02

When I’m talking to bankers and other fraud fighters, I often mention how easy it is for a criminal to obtain a Drivers License bearing any information they desire. I was reminded of this again as I saw the sentencing…

Classic Baggie: Part Three – the Romance Scam Victims

2024-01-21 16:01

If you are just joining us, we are reviewing the court transcripts of a Business Email Compromise / Romance Scam Money Laundering case. Part One reveals “Classic Baggie: A Delaware BEC Case calls him the leader of an International Criminal…

Book Review: The Crypto Launderers: Crime and CryptoCurrencies

2024-01-20 16:01

The Crypto Launderers: Crime and Cryptocurrencies from the Dark Web to DeFi and Beyond – by David Carlisle I wish I had a way to review this book without having first read last year’s “Tracers in the Dark.” While…

Classic Baggie: Part 2 – How to run a Money Laundering Operation

2024-01-14 09:01

In Part 1 of this story Classic Baggie: A Delaware BEC Case calls him the leader of an International Criminal Organization the prosecutor in the case of Olugbenga Lawal has given his opening arguments, where he calls Classic Baggie the…

Classic Baggie: A Delaware BEC Case calls him the leader of an International Criminal Organization

2024-01-14 08:01

The U.S. Attorney’s office in Delaware charged Olugbenga Lawal with being a major money launderer for a Nigerian-based international criminal organization that specialized in Business Email Compromise (#BEC) and Romance Scam. Lawal was charged with receiving more than $3 million…

Vietnam’s Massive CAPTCHA crackers vs. Microsoft DCU

2023-12-31 05:12

Earlier this month, Microsoft’s Digital Crimes Unit was featured in a WIRED article by Lily Hay Newman – Microsoft’s Digital Crime Unit Goes Deep on How It Disrupts Cybercrime. In part, the article discusses MS-DCU’s case against the hackers that they…

China continues Pig-Butchering Crack-down

2023-12-02 14:12

One of my techniques for keeping current on Cybercrime trends is having an “interesting” collection of international news ticklers. This story came to me via X:CyberScamMonitor via a QQ account called “onCambodia.” @CyberScamMonitor is a Twitter/X account and Substack account…