The ringleader of a global scamming network was arrested by Interpol for scamming $60 million from companies around the world – through fraudulent emails. The 40-year-old man is being accused of running a criminal network that compromised emails of businesses all throughout the world. The location of this email fraud network? Nigeria.
Interpol and Nigeria’s anti-fraud agency picked up a 40-year-old known as Mike along with a 38-year-old accomplice in Nigeria’s oil capital, Port Harcourt. The investigation took months, according to Nigeria’s anti-fraud agency.
After the arrest, the law enforcement agencies discovered the men were involved in a much larger range of criminal activities including business e-mail compromise (BEC) and romance scams.
According to a statement by Interpol, payment diversion fraud was the main source of the criminal network’s income – “a supplier’s email would be compromised and fake messages would then be sent to the buyer with instructions for payment to a bank account under the criminal’s control – and ‘CEO fraud’.” The criminals would then withdraw the money and attempt to erase any paper-trail.
The email address of a high-level company employee, such as a CEO, would be hacked by the Nigerian men. That email account would then be used