UK-Based Multinational Gang Runs BEC Scams like a Modern Corporation

London Blue Report

Published April 2019

d

Agari has uncovered the working methods of a U.K./Nigerian gang with U.S.-based co-conspirators conducting Business Email Compromise (BEC) attacks against companies around the world.

This report demonstrates that cybercriminal groups continue to evolve and are using formal business strategies and structure to more effectively carry out their scams. London Blue’s use of legitimate commercial sales prospecting tools shows the out-of-box thinking these groups employ to identify new targets. The pure scale of the group’s target repository is evidence that BEC attacks are a threat to all businesses, regardless of size or location.