Three people, part of a Business Email Compromise (BEC) scammer group that stole roughly €10.7 million ($11,900,000) from 12 companies, were arrested in Spain by the Guardia Civil as part of Operation Lavanco. BEC (otherwise known as Email Account Compromise, CEO fraud, or CEO impersonation) fraud schemes are scams that allow crooks to trick a company’s employees to wire out funds to attacker-controlled bank accounts they control via computer intrusion or by using social engineering.
Source: Bleeping Computer
