BEC Schemer, $5.3M Forfeiture, Massachusetts 2023
GRIMY TIMES EXCLUSIVE: The U.S. government is seeking to forfeit approximately $5,315,746.29 in funds allegedly connected to a Business Email Compromise (BEC) scheme targeting a workers union in Massachusetts.
According to a complaint filed by the U.S. government, the workers union based in Dorchester, Massachusetts, was defrauded out of $6.4 million in January 2023 after receiving a spoofed email that appeared to be from its investment manager. The email allegedly changed the beneficiary bank account of the $6.4 million payment, tricking the union into transferring funds to a bank account controlled by someone other than the intended recipient.
The complaint alleges that the fraudulently obtained funds were then transferred through a series of intermediary bank accounts, with some funds transferred or attempted to be transferred to a cryptocurrency exchange or to various bank accounts located in Hong Kong, China, Singapore, and Nigeria. Investigators were able to trace proceeds of the scheme to seven domestically held bank accounts, the contents of which were subsequently seized.
No defendant has been named in the case, and the U.S. government bears the burden of proving that the funds in question are subject to forfeiture in a civil forfeiture proceeding.
To avoid becoming the victim of a BEC scheme, verify that sender email addresses are accurate when checking mail on a cellphone or other mobile device before opening any attachments or following any instructions, and never make any payment changes without verifying with the intended recipient by phone or in person.
The U.S. Secret Service is investigating the case, and a civil forfeiture complaint is merely an allegation. If you think you have been a victim of a BEC scheme, immediately contact your bank to request a recall or reversal as well as a Hold Harmless Letter or Letter of Indemnity, and file a detailed complaint with the Internet Crime Complaint Center at www.ic3.gov.
Defendant: No defendant named
Exact criminal charges: Alleged proceeds of a business email compromise scheme
City and state: Dorchester, Massachusetts
Exact date: January 2023
Sentence or outcome: Pending
Dollar amounts: $5,315,746.29
Key Facts
- State: Massachusetts
- Category: Cybercrime
- Source: DOJ Press Release â†â€â€
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