The International Cricket Council (ICC) has become the victim of an online fraud perpetrated by someone in the US posing as its seller. It is being told that the ICC has suffered a loss of Rs 20 crore in this fraud, for which investigation has started.
ICC became victim of phishing attack, Rs 20 crore
It is official that the International Cricket Council (ICC) has transferred Rs 20 crore to someone in the US, who claimed himself to be the usual ICC vendor.
How did the scam work?
How it works is that someone from the US acted as a seller of ICC and emailed ICC using a fake email address. This scam is called BEC scam, which is a form of phishing.
Apparently, ICC did not check the email id and gave Rs 20 crore, but later found out that he was cheated.
As per reports, the US-based party approached the Dubai office of the Cricket Council. And, the CFO of ICC is said to have done the transaction. At present, it is not clear whether the wire transfer was done once or multiple transfers were done.
The ICC has kept complete silence on this matter. However, the investigation has started so we should have more details soon.
What is BEC scam?
BEC scams are a form of phishing where criminals make emails appear as if they come from a known and official source. They then trick others into transferring money or other sensitive information. BEC stands for Business Email Agreement.
What is phishing?
Phishing is a type of attack where criminals steal user data, credentials and other sensitive information over email or messaging.
ICC lost Rs 20 crore in phishing attack: Check details appeared first on BGR India.