INTERPOL Recovers $41 Million in Largest Ever BEC Scam in Singapore

INTERPOL said it devised a "global stop-payment mechanism" that helped facilitate the largest-ever recovery of funds defrauded in a business email compromise BEC scam. The development comes after an unnamed commodity firm based in Singapore fell victim to a BEC scam in mid-July 2024. It refers to...

A week in security (March 1 – 7)

Last week on Malwarebytes Labs, our podcast featured Eva Galperin who talked to us about defending online anonymity and speech. We wrote about how Ryuk ransomware has developed a worm-like capability, how Exchange servers are attacked by Hafnium zero-days, 21 million free VPN users’ data was...

Unified SaaS Application Security, Detection, and Response

Organizations are rapidly embracing Software as a Service SaaS applications for scalability, ease & flexibility of use, and the benefits of not using their own infrastructure. To maintain their focus on business objectives during the new ‘remote workforce normalcy’, organizations have fast-tracke...

FBI arrests Famous Instagrammer Ray Hushpuppi over $125m BEC scam

By Deeba Ahmed Ray Hushpuppi also targeted the English Premier League soccer club... This is a post from HackRead.com Read the original post: FBI arrests Famous Instagrammer Ray Hushpuppi over $125m BEC scam...

Electrolux, Others Conned Out of Big Money by BEC Scammer

A 64-year-old business email compromise BEC guru has plead guilty in Houston to bilking appliance giant Electrolux and one other company out of a combined half a million dollars — in addition to other fraud schemes. Kenenty Hwan Kim a.k.a. Myung Kim admitted in federal court the Southern District...

Puerto Rico Gov Hit By $2.6M Phishing Scam

A phishing scam has swindled a Puerto Rico government agency out of more than $2.6 million, according to reports. According to reports, the email-based phishing scam hit Puerto Rico’s Industrial Development Company, which is a government-owned corporation aimed at driving economic development to...

Community Housing Nonprofit Hit with $1.2M Loss in BEC Scam

A non-profit community housing collective has been swindled out of more than $1.2 million in a business email compromise BEC campaign. Red Kite Community Housing, a coop housing association in High Wycombe, U.K. outside of London announced in a recent website notice that £932,000 of the money pai...

This Week in Security News: December Patch Tuesday Updates and Retail Cyberattacks Set to Soar 20 Percent During 2019 Holiday Season

Welcome to our weekly roundup, where we share what you need to know about the cybersecurity news and events that happened over the past few days. This week, learn about the threat campaign Waterbear and how it uses API hooking to evade security product detection. Also, read about December Patch...

BEC Scam Costs Media Giant Nikkei $29 Million

Media conglomerate Nikkei Inc. has fallen victim to a business email compromise BEC scam that fleeced the company out of $29 million. Nikkei is Japan’s largest financial media organization and lends its name to Japan’s premier stock index, which is the equivalent of the Dow Jones Industrial Avera...

This Week in Security News: Ransomware Campaigns and Cryptocurrency Miners

Welcome to our weekly roundup, where we share what you need to know about the cybersecurity news and events that happened over the past few days. This week, learn about continuing cybersecurity attacks targeting small governments. Also, read how XDR, Trend Micro’s newest solution, is more...

Don’t Blame Employees who fall for a BEC scam!

The BBC reports that a media company based in Scotland is now suing a former employee who fell for a Business Email Compromise BEC scam. In the scam, the employee received emails which appeared to be from the managing director and requested wire transfers. The employee worked with her line manage...

This Week in Security News: HR and Heritage Hacks

Welcome to our weekly roundup, where we share what you need to know about the cybersecurity news and events that happened over the past few days. This week, the details of 92 million accounts for MyHertitage were discovered on a private server outside of the company. Also, companies using service...

Fraud Alert Issued on Business Email Compromise Scam

The Financial Services Information Sharing and Analysis Center FS-ISAC and federal law enforcement agencies have released a joint alert warning companies of a sophisticated wire payment scam referred to as business email compromise BEC. Scammers use fraudulent information to trick companies into...