November 19, 2024 at 07:35AM Maryland AI company iLearningEngines reported a $250,000 loss from a wire transfer fraud linked to a business email compromise scheme. Following the incident, the company activated its cybersecurity response plan and engaged external experts. Despite containing the situation, iLearningEngines faces potential legal scrutiny and adverse impacts on operations and stock … Read more
October 3, 2024 at 08:39AM British-Nigerian men Oludayo Kolawole John Adeagbo, 45, and Donald Ikenna Echeazu, 42, have been sentenced for email fraud schemes in the US, earning millions. Adeagbo was sentenced to seven years for affecting Texas and North Carolina organizations, while Echeazu received 18 months. Their scams involved construction projects and local government … Read more
August 4, 2024 at 10:07PM Scammers used Google’s ad system to push a fake version of Google Authenticator, tricking users into downloading malware. AI-written emails now make up 40% of business email compromise cases. CISA appointed its first chief artificial intelligence officer, Lisa Einstein. Vulnerabilities in ServiceNow and Acronis Cyber Infrastructure were flagged by CISA. … Read more
March 7, 2024 at 09:34AM Nigerian national Henry Echefu pleaded guilty in a US court to his role in a business email compromise (BEC) fraud scheme causing about $200,000 in losses. Echefu and co-conspirators engaged in unauthorized access to email accounts, instructing victims to make wire transfers. He faces up to 20 years in prison … Read more
January 5, 2024 at 06:30AM Nigerian national Olusegun Samson Adejorin is accused of perpetrating a $7.5 million business email compromise (BEC) scheme on two charitable organizations in the US. Adejorin allegedly obtained employee credentials, made fraudulent fund withdrawal requests, and used various tools to perpetrate the fraud. He faces multiple charges and is awaiting court … Read more