Security News > 2020 > June > Electrolux, Others Conned Out of Big Money by BEC Scammer

Kenenty Hwan Kim admitted in federal court that he had carried out the elaborate schemes, which involved spoofed emails that purported to be internal communications from executives at the target companies.

The fake email said that Chance was having issues receiving check payments from Solid Bridge, and then asked Solid Bridge to mail a check to another mailing address instead. Kim provided a mailing address, and Solid Bridge dutifully wrote out a check and mailed it - the address of course turned out to be bogus.

In the second incident, Kim used a similar tactic to convince the North American division of Electrolux to wire more than $300,000 to what it thought was a known and legitimate vendor.

"Again, Kim took that money and eventually placed it in an offshore account."

He also set up a shell account, "Kugu Palpal Invest Develop LLC" in Washington State under the name Myung Kim, with an associated, different KeyBank account that Kim also placed money into; after that, money was transferred again, from KeyBank to a Bank of America account also associated with Kugu Palpal Invest Develop LLC. That money too was then wired to South Africa.

News URL

https://threatpost.com/electrolux-conned-money-bec-scammer/156359/