We Infiltrated a Counterfeit Check Ring! Now What?

June 30, 2021

Fraud fighters online have infiltrated a cybercrime gang committing BEC scams.

Ronnie Tokazowski is a threat researcher at Agari, a security firm that has closely tracked many of the groups behind these advanced fee schemes. Tokazowski said it’s likely the group B. Ware has infiltrated is involved in a myriad other email fraud schemes, including so-called “business email compromise” (BEC) or “CEO scams,” in which the fraudsters impersonate executives at a company in the hopes of convincing someone at the firm to wire money for payment of a non-existent invoice. According to the FBI, BEC scams netted thieves nearly $2 billion in 2020 — far more than any other type of cybercrime.

Read the full article here: https://krebsonsecurity.com/2021/06/we-infiltrated-a-counterfeit-check-ring-now-what/