Arrests in Business Email Compromise Takedown

Federal authorities arrest 74 people in wire transfer scam

Feds arrest dozens in alleged wire transfer scam | TheHill

In January 2018, Odufuye pleaded guilty to two charges, admitting that he conspired with two other people to send emails "from outside the United States addressed to executives and officers at businesses in the United States. made to appear to be sent from the legitimate email address of the CEO or other executive from the business".

Law enforcement also seized almost $2.4 million as part of the operation, and recovered approximately $14 million in fraudulent wire transfers by disrupting the BEC schemes, the DOJ said.

Almost $2.4 million was seized in the six-month operation dubbed "Operation Wire Wire" and about $14 million in fraudulent wire transfers was recovered, according to the U.S. Federal Bureau of Investigation.

The arrests took place in the US, Nigeria, Canada, Mauritius, and Poland.

The US Justice Department on Monday announced the arrest of 74 individuals, including 42 in the US, for their involvement in "business email compromise" (BEC) schemes created to steal money and valuable information from both businesses and individuals.

Law officials warn that BEC scams may involve fraudulent requests for checks rather than wire transfers.

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The US department also said the same criminal organisations that perpetrate BEC - cyber-enabled financial fraud - also exploit individual victims, often real estate purchasers, the elderly, and others.

The effort, which involved local and federal law enforcement agencies, targeted scammers who trick people into transferring them money, for example by impersonating a business partner or colleague.

It said the suspects extort their victim by convincing them to make wire transfers to bank accounts controlled by the criminals.

Foreign citizens perpetrate many of these schemes, which originated in Nigeria but have spread throughout the world.

It culminated in more than two weeks of intensified law enforcement activity resulting in 73 arrests in the US and overseas, primarily in Nigeria, and the recovery or seizure of about $6 million. If you believe you may have been a target, you can also file a complaint with the IC3.

"We will continue to work together with our law enforcement partners around the world to end these fraud schemes and protect the hard-earned assets of our citizens", Federal Bureau of Investigation director Christopher Wray said in a statement.

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