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+--- Thread: Nigerian Serial Scammers Exposed by Own Malware (/showthread.php?tid=144)
Nigerian Serial Scammers Exposed by Own Malware - Mhiz Rebecca - 08-09-2016
Two Security researchers from Secureworks, Joe Stewart and
James Bettke, recently discovered a Nigerian scam ring. They
were eventually caught in their own web after several years
of operation. The ringleader unknowingly infected his
computer with the same malware that they want
unsuspecting victims to download.
This vulnerability made it possible for the researchers to
monitor the ringleader for several months. Information
concerning his contacts, tools, messages, his victims and the
amount of money transferred were revealed, according
to Bettke’s account.
A more refined version of the Business Email Compromise
(BEC) scam was employed by the criminals. It is also known
as wire-wire which involves picking random email addresses
from public sources and attacking them with malware so that
they are easily accessible. After the attack, if a victim orders
for anything through email, the group hijacks it and altered
details are sent to the victim. The group consists of over 30
members with earnings around $3 million annually.
According to a published report, the duo have this to say:
"After the fact, it can take awhile before
the customer and seller realize they’ve been
scammed—often, neither buyer or seller realizes
that something is amiss until the shipment or
payment is overdue. Given their vantage point,
Stewart and Bettke have tried to alert some
businesses to the scam before the fraudulent
transactions are complete, but they sometimes
have a hard time persuading employees that
they aren’t scammers themselves."
The EFCC is already aware of this development, and at least
one active investigation is ongoing.