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Category — BEC Attack
Interpol Busted 11 Members of Nigerian BEC Cybercrime Gang

Interpol Busted 11 Members of Nigerian BEC Cybercrime Gang

Jan 20, 2022
A coordinated law enforcement operation has resulted in the arrest of 11 members allegedly belonging to a Nigerian cybercrime gang notorious for perpetrating business email compromise (BEC) attacks targeting more than 50,000 victims in recent years. The disruption of the BEC network is the result of a ten-day investigation dubbed  Operation Falcon II  undertaken by the Interpol along with participation from the Nigeria Police Force's Cybercrime Police Unit in December 2021. Cybersecurity firms  Group-IB  and Palo Alto Networks'  Unit 42 , both of which shared information on the threat actors and their infrastructure, said six of the 11 suspects are believed to be a part of a prolific group of Nigerian cyber actors known as SilverTerrier (aka TMT). BEC attacks, which began to gain dominance in 2013, are  sophisticated scams  that target legitimate business email accounts through social engineering schemes to infiltrate corporate networks and subsequently leverage their acce
Best Practices to Thwart Business Email Compromise (BEC) Attacks

Best Practices to Thwart Business Email Compromise (BEC) Attacks

Jul 29, 2021
Business email compromise (BEC) refers to all types of email attacks that do not have payloads. Although there are numerous types, there are essentially two main mechanisms through which attackers penetrate organizations utilizing BEC techniques, spoofing and account take-over attacks. In a recent  study , 71% of organizations acknowledged they had seen a business email compromise (BEC) attack during the past year. Forty-three percent of organizations experienced a security incident in the last 12 months, with 35% stating that BEC/phishing attacks account for more than 50% of the incidents. The  FBI's Internet Crime Complaint Center  (IC3) reports that BEC scams were the most expensive of cyberattacks in 2020, with 19,369 complaints and adjusted losses of approximately $1.8 billion. Recent BEC attacks include spoofing attacks on Shark Tank Host Barbara Corcoran, who lost  $380,000 ; the Puerto Rican government attacks that amounted to $4 million, and Japanese media giant, Nikkei
Enterprise Identity Threat Report 2024: Unveiling Hidden Threats to Corporate Identities

Enterprise Identity Threat Report 2024: Unveiling Hidden Threats to Corporate Identities

Oct 31, 2024Identity Security / Browser Security
In the modern, browser-centric workplace, the corporate identity acts as the frontline defense for organizations. Often referred to as "the new perimeter", the identity stands between safe data management and potential breaches. However, a new report reveals how enterprises are often unaware of how their identities are being used across various platforms. This leaves them vulnerable to data breaches, account takeovers, and credential theft. The "Enterprise Identity Threat Report 2024" ( download here ) is based on exclusive data available only to the LayerX Browser Security platform. This data derives from LayerX's unique visibility into every user action in the browser, across industries. It provides a detailed analysis of emerging risks and uncovered hidden threats. To register to a live webinar to cover the key findings in this report, Click here . Below is a deeper dive into some of the report's most critical findings: 1. The Greatest Risk Comes from 2% of Users Security profe
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