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Attacks/Breaches

3/13/2020
02:25 PM
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Big BEC Bust Brings Down Dozens

Two dozen individuals have been named in the latest arrests of alleged participants in a business email compromise scheme that cost victims $30 million.

Federal officials have arrested two dozen individuals on charges related to a series of business email compromise (BEC) fraud and money-laundering schemes. The individuals, most of whom live in or around Atlanta, are alleged to have committed fraud against individuals and companies using BEC schemes, romance fraud scams, and retirement account scams, among others.

According to a statement released by the Justice Department, those arrested this week join 17 individuals already in federal custody as charged in the series of alleged crimes. The department says that those charged collected more than $30 million from their victims, laundering the money through accounts often opened in victims' names and used to both defraud the victim and launder the criminal proceeds.

More than two dozen local, state, and federal law enforcement agencies participated in the investigation of the defendants.

For more, read here.

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