Gang arrested after diverting more than €40,000 from Canary Islands company through fake emails
The Civil Guard has blocked part of the stolen money and identified five people involved in a 'Business Email Compromise' scam against a company in Lanzarote.
Gang arrested after diverting more than €40,000 from Canary Islands company through fake emails
A company in Lanzarote has lost more than €40,000 after falling victim to a trap set by cybercriminals. The Civil Guard has identified five people linked to the scam and recovered part of the money. ABC has published the details.
The fraud was based on infiltrating the company's messaging system. The thieves modified the payment accounts that appeared in invoices from regular suppliers. Thus, when the victim paid what was owed, the money ended up in the hands of the fraudsters.
The company discovered the embezzlement and went to the police. Officers acted quickly, locating the accounts where the funds had ended up and blocking them before the perpetrators could withdraw the cash or send it abroad.
Two of those involved live on the mainland and are considered the masterminds of the plan. Three others collaborated with the network. All are being investigated for fraud, membership of a criminal organisation, money laundering and document forgery.
The method used, called BEC, involves seizing control of real email addresses belonging to a company. From there, the fraudsters send messages that appear to be from bosses, colleagues or trusted suppliers. By using authentic accounts, the recipient of the message does not suspect anything and ends up complying with what is asked of them, whether it be making a transfer or providing sensitive data.
The investigation remains open and further arrests could take place.
Source: ABC