Security News > 2022 > December > What happens once scammers receive funds from their victims
2022-12-19 05:00
In this Help Net Security video, Ronnie Tokazowski, Principal Threat Advisor at Cofense, offers insight into the world's most lucrative cybercrime - business email compromise.
The Cofense team recently purchased $500 worth of trackable gift cards to intentionally give to scammers in the hopes of discovering what happens once scammers receive these funds, engaging with 54 live BEC attacks over 5 weeks.
With gift cards continuing to be one of the more difficult cash-out methods to track, analysts uncovered how quickly scammers move funds.
In all but one case, each gift card was stolen, re-sold, and used for purchases within 24 hours.