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2.5Million $ ICC looses in Phishing scam

Phishing scam: A cybercrime involving a wire transfer of a substantial sum of money, roughly US$2.5 million, victimised the International Criminal Court (ICC). Despite the fact that the exact sum involved not confirmed, ESPNcricinfo has learned that the alleged scam originated in the USA and occurred in 2022.

Meanwhile, scam carried out by fraudsters using business email compromise (BEC). Also referred to as e-mail account compromise. One of the most financially destructive cyber crimes, according to the Federal Bureau of Investigation (FBI), is business email compromise.

The ICC is keeping quiet about the incident because the suspected fraud have reported to US law enforcement, and an investigation has started. It has found that the ICC Board was made aware of the incident last year.

At this time, it is unclear exactly what steps the fraudsters. Took to transfer the money from the ICC account, including whether they chose to directly contact someone. At the Dubai head office or a vendor or consultant instead. Furthermore. It’s not clear if the transaction consisted of a single wire transfer or several.

BEC Scam Phishing scam

“spoofing of a legitimate, known e-mail address or the use. Of the a nearly identical address to appear as someone known to or trusted by the victim. BEC scams initiated when a victim receives false wire instruction from a criminal attempting to redirect legitimate payments. To a bank account controlled by fraudsters.”

The BEC scam, the FBI report said, is evolving fast as the criminals become more “sophisticated”. “The scam has progressed from spoofed e-mails purportedly from chief executive officers requesting wire payments to fraudulent locations. To impersonation of vendor e-mails; spoofed lawyer e-mail accounts; diversion of payroll funds; the targeting of the real estate sector; and fraudulent requests for large amounts of gift cards.” it is one of the top scam.

Espncricinfo

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