Over $40 Million Recovered and Arrests Made Within Days After Firm Discovers Business Email Compromise Scam

According to the FBI, billions of dollars have been lost through Business Email Compromise (BEC) attacks in recent years, so you may well think that there is little in the way of good news. However, it has been revealed this week that police managed to recover more than US $40 million snatched in a recent BEC heist just two days after being told about it. As Interpol describes, police were contacted by an unnamed commodities firm in Singapore last month after realising that it had been tricked into transferring funds into a fraudulent bank account based in East Timor (also known as Timor-Leste...