After $5.3 million was stolen in January 2023 through a BEC scheme, the U.S. government just announced that it is attempting to recover the money. An unnamed workers union in Massachusetts lost the money when it fell for a phishing email requesting the transfer of $6.4 million to a different bank account. $5.3 million of the money was traced to JPMorgan Chase and Texas Bank and Trust bank accounts. The rest was sent to cryptocurrency exchanges and bank accounts in various other countries. Authorities seized the accounts in U.S. banks holding the stolen money, and are now trying to get the forfeiture of the stolen money. The U.S. Justice Department revealed that transfers were quickly made between accounts to attempt to conceal the money’s source. Acting U.S. Attorney Joshua S. Levy hopes that this civil forfeiture action will encourage future victims to report similar events to authorities, allowing them to take action and attempt to recover the stolen funds.
Read more: https://www.securityweek.com/us-authorities-attempting-to-recover-5-3-million-stolen-in-bec-scam/