Spearphishing campaigns from new and established business email compromise (BEC) gangs are stealing from companies using multiple tactics.

A wave of business email compromise (BEC) campaigns targeting direct-deposit payroll information demonstrate once again that sophisticated technical skills aren’t necessary when you can convince employees to simply hand you money.
Vade Secure recently discovered an ongoing direct-deposit spear-phishing campaign that used conversational email messages to make first contact with HR representatives in an attempt to enlist their help in re-directing direct deposit funds into the criminals’ accounts.
Adrien Gendre, chief solution architect for Vade Secure, says BEC-type attacks are popular because the cost is cheap and when successful, the results are rapid. Vade Secure has seen this type of spear phishing attack across multiple customers in recent months. “It’s not isolated, that’s for sure,” he says.
The widespread nature of the problem is amplified in a new report by Agari Data on London Blue, a multinational gang conducting BEC campaigns first revealed in December. London Blue harvests the names and addresses of targets from legitimate sources, buying access to executives from companies paid to provide contact information (typically for legitimate marketing operations).
In the attacks originally reported by Agari Data, the London Blue group used a typical business email compromise (BEC) subterfuge in which the attacker pretends to be a vendor owed money by the victim. In the most recent campaign, the group has switched cover stories and is now pretending that urgent M&A activity requires a rapid down-payment to an account which (because of the secret nature of the negotiations) is not in the victim’s accounting system.
With BEC scams, attackers often use common public email services, such as AOL, Gmail, or HotMail, as the source of their spear-phishing messages. Agari Data notes that, in February, London Blue switched …

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Author: Curtis Franklin Jr. Senior Editor at Dark Reading

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