July 9, 2020 By Graham Cluley
Things just got serious.
Business Email Compromise is no longer solely the province of chancers and opportunistic Nigerian actors such as the Yahoo Boys. Organised criminal gangs with a high level of professionalism have seen the opportunity and seized it.
Security researchers at Agari have published a report detailing their investigations into a Russian cybercrime gang they say have stolen millions of dollars from companies in 46 countries since mid-2019.
What makes the report particularly interesting is that the Cosmic Lynx gang is believed to have moved on from their tried-and-trusted techniques of using banking trojans and click fraud malware to generate income into highly professional Business Email Compromise (BEC) attacks.