Bitcoin Business Email Compromise Compromise 
PYMNTS
JULY 13, 2020
Two Nigerian scammers known for allegedly defrauding American companies for tens of millions of dollars that they transferred into bitcoin were extradited to the U.S. Ponle, according to the complaint, wasn’t that concerned with covering his tracks — he reportedly used the same address on the Bitcoin network since 2014.
PYMNTS
OCTOBER 7, 2020
With transactions that become irreversible almost instantaneously, bitcoin and other cryptocurrencies are winning new converts — among scammers eager to avoid credit card chargebacks that can eat into their ill-gotten gains. Jack Dorsey Likes Bitcoin, But So Do Crooks . For example, the U.S. A month earlier, the U.S.
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PYMNTS
APRIL 26, 2019
Business email compromise (BEC) scams are gaining traction, and bilking unwitting individuals and companies out of an increasing amount of money. For gift cards, once they have the pictures of the cards from the victims, they sell the cards on gift card exchanges where they can sell the cards to bitcoin. billion in 2018.
PYMNTS
MARCH 9, 2020
The FBI has once again sounded the alarm on the proliferation of digital fraud like ransomware and the business email compromise (BEC) scam, releasing new stats on the financial damage such criminal activity has caused in the U.S. in recent years. billion in 2019.
PYMNTS
APRIL 28, 2019
Police in Singapore helped stop a scam that was targeting users of bitcoin machines at a local mall. The scammers then ordered the man to transfer a total of $1,000 ($734 USD) worth of bitcoin to their wallets on two occasions, which the victim did.
PYMNTS
AUGUST 5, 2019
Business email compromise (BEC) attempt scams are gaining traction, targeting billions of dollars in ill-gotten gains. As reported by businessinsights.com , the agency has found more than 32,000 documented cases of BEC attempts during that timeframe. Taken on a daily basis, the BEC scams have tried to siphon off $8.7
PYMNTS
SEPTEMBER 11, 2019
But that message is apparently lost on criminals, who, according to a new report, have stolen some $26 billion over the last three years in a scam generally known as “ business email compromise.”. This is not the first time the FBI has sounded a warning about business email compromise. Federal Bureau of Investigation. Fraud Trends.
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