Ah, the boys from Lagos. From princes and other royalty needing help transferring money to CEOs with too-good-to-be-true business opportunities, Nigeria has been a hotbed for online scams for more than a decade.
Researchers at Dell SecureWorks decided to target a Nigerian kingpin that sat atop a complex business email compromise (BEC) operation in an effort to give these folks a taste of their own medicine—with wildly successful results.
It’s important to note that while most overseas scams are easy to spot—broken English, easy riches, asking for wire transfer information—this is starting to change.
“Whether the goal is to convince a victim to divulge their email password or send a wire transfer to a CEO impersonator, the criminals have fine-tuned their pitches and are becoming difficult for the average victim to detect,” Dell SecureWorks researchers noted. “Even worse, the fraudsters are teaching each other these improved methods, creating a problem that is growing exponentially over time.”
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