Attacks/Breaches

8/23/2018
11:32 AM
50%
50%

CA Man Arrested for Conspiracy to Launder BEC Earnings

Ochenetchouwe Adegor Ederaine Jr., was involved with an organization engaged with wire fraud and related criminal activity, the DoJ reports.

California native Ochenetchouwe Adegor Ederaine Jr., has been arrested and charged for his involvement in a conspiracy to launder funds generated from business email compromise (BEC) fraud schemes, the Department of Justice reported this week.

Ederaine was part of an organization involved with wire fraud and related criminal activity. He laundered the money they generated through bank transactions crafted to conceal the nature, location, source, ownership, and control of the money.

Between March 2016 and November 2017, the DoJ reports, Ederaine used fake passports and other counterfeit identification documents to open about 23 bank accounts at different institutions around the Los Angeles area using six different false identities. Each newly opened account received wire transfers containing proceeds of the group's illicit activity.

Ederaine faces a maximum sentence of 20 years in prison, three years of supervised release, and a fine of $500,000 or twice the value of funds laundered in the conspiracy.

Read more details here.

Learn from the industry's most knowledgeable CISOs and IT security experts in a setting that is conducive to interaction and conversation. Early bird rate ends August 31. Click for more info

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Russia Hacked Clinton's Computers Five Hours After Trump's Call
Robert Lemos, Technology Journalist/Data Researcher,  4/19/2019
Tips for the Aftermath of a Cyberattack
Kelly Sheridan, Staff Editor, Dark Reading,  4/17/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
5 Emerging Cyber Threats to Watch for in 2019
Online attackers are constantly developing new, innovative ways to break into the enterprise. This Dark Reading Tech Digest gives an in-depth look at five emerging attack trends and exploits your security team should look out for, along with helpful recommendations on how you can prevent your organization from falling victim.
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-11378
PUBLISHED: 2019-04-20
An issue was discovered in ProjectSend r1053. upload-process-form.php allows finished_files[]=../ directory traversal. It is possible for users to read arbitrary files and (potentially) access the supporting database, delete arbitrary files, access user passwords, or run arbitrary code.
CVE-2019-11372
PUBLISHED: 2019-04-20
An out-of-bounds read in MediaInfoLib::File__Tags_Helper::Synched_Test in Tag/File__Tags.cpp in MediaInfoLib in MediaArea MediaInfo 18.12 leads to a crash.
CVE-2019-11373
PUBLISHED: 2019-04-20
An out-of-bounds read in File__Analyze::Get_L8 in File__Analyze_Buffer.cpp in MediaInfoLib in MediaArea MediaInfo 18.12 leads to a crash.
CVE-2019-11374
PUBLISHED: 2019-04-20
74CMS v5.0.1 has a CSRF vulnerability to add a new admin user via the index.php?m=Admin&c=admin&a=add URI.
CVE-2019-11375
PUBLISHED: 2019-04-20
Msvod v10 has a CSRF vulnerability to change user information via the admin/member/edit.html URI.