4) $23M Scam

$23M  BIZ email scam!

A Nigerian host has been sentenced to 5 years in a US prison after making approximately $23million from basic wire fraud scams and identity thefts.

The host used a combination of clone phishing and wire fraud to extract money out of international businesses from Australia, America, United Kingdom and Africa.

What is the scam?
Clone phishing is a attack whereby a legit and previously delivered email (containing an attachment or link) has had its content taken and used to create an almost identical or cloned email. Thereby tricking the victim into thinking they are contacting the original intender.
Whereas wire fraud is a phishing-based attack complimented with a invoice sent to the victim. The attacker would include bank details for the invoice to be sent to as well as a malicious script, allowing the attacker to see the victim’s database.

Who is this scam artist?
He goes by the government name of  Onyekachi Emmanuel Opara, from Lagos (Nigeria), after admitting to wire fraud charged and identity thefts, he was extradited to the US and trialled this January.

How did they do it?
First of all, they would enlist themselves as an employee of the business, allowing them to act higher management of the companies in question. They would then ask the victim staff to wire over money to certain bank accounts-acting swiftly.

What can you do to protect yourself?
Keep up to date with the latest forms of cyber-attacks and have legitimate training sessions taking place for your staff. 

Author

Blog Written by my friend Muaaz Nadat who is from United Kingdom, he has great experience  in Security and other domain. Thank you Muaaz Nadat for your great blog.
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