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In June, Obinwanne Okeke, a Nigerian “entrepreneur” who appeared on the cover of the African edition of Forbes in 2016, pleaded guilty to charges of fraud. Turned out Okeke’s company, Invictus Group, named after Nelson Mandela’s favorite poem, was a front. Between 2015 and 2019, the founder’s crew orchestrated a series of hacks and scams, including one campaign that swindled Unatrac Holding, a sales office of Caterpillar, the construction giant, out of $11 million.

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Trends in BEC and email security during Q2 2020 included a peaking and plateauing of COVID-19-themed email attacks, an increase in BEC attack volume and acceleration of payment and invoice fraud. The report also reveals that Zoom supplanted American Express as the most impersonated brand in email attacks.

Abnormal Security Quarterly BEC Report Shows How COVID-19 Zeitgeist Permeates Email Cyberattacks on Businesses

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In a case that highlights how anybody — truly, anybody — can be a victim of invoice fraud, federal officials have reportedly charged two brothers in New York State for an alleged $19 million scam targeting Amazon.

Invoice Fraud Strikes Amazon In $19M Scam

The shift to remote work makes employees more susceptible to BEC attacks and gives threat actors the opportunity to apply tactics likely to be successful given these working conditions.

“The pandemic has ignited digital transformation efforts at a breakneck pace and cybercriminals are moving just as fast, taking advantage of a new work-from-home landscape amid great business uncertainty,” said Even Reiser, CEO, Abnormal Security.

“Keeping pace with change is critical, as attackers have continued to exploit enterprises’ weak links – such as vendor and partner relationships – and are pushing more sophisticated and targeted BEC attacks than we’ve seen previously.”

Brand impersonation is a go-to tactic for attackers, especially for credential phishing and BEC attacks

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Cyber-criminals have been impersonating the well-known Bitcoin BTC ERA trading platform in order to infect users of the online currency with malware, according to new research from Abnormal Security.The cybersecurity firm found that malicious actors have been sending emails purporting to be from BTC Era that encourage users of Bitcoin to pay for what they believe is an investment.

Malicious Actors Impersonating Bitcoin Platform to Launch Malware Attacks

Cyber-criminals have been impersonating the well-known Bitcoin BTC ERA trading platform in order to infect users of the online currency with malware,…

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Malicious Actors Impersonating Bitcoin Platform to Launch Malware…

https://abnormal.ai/about/news/malicious-actors-impersonating-bitcoin-platform-to-launch-malware-attacks

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{"title":{"title":"Malicious Actors Impersonating Bitcoin Platform to… | Abnormal AI"}}

Cyber-criminals have been impersonating the well-known Bitcoin BTC ERA trading platform in order to infect users of the online currency with malware, according to new research from Abnormal Security.

The cybersecurity firm found that malicious actors have been sending emails purporting to be from BTC Era that encourage users of Bitcoin to pay for what they believe is an investment.

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Malicious Actors Impersonating Bitcoin Platform to Launch Malware Attacks

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