Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home News

Nigerian National’s BEC Guilty Plea

September 26, 2023
Reading Time: 2 mins read
in News

A Nigerian national, Kosi Goodness Simon-Ebo, residing in South Africa, has pleaded guilty to wire fraud and money laundering as part of a business email compromise (BEC) scheme, causing losses exceeding $6 million to the victims, according to US authorities. Simon-Ebo’s plea agreement revealed that from February 2017 until at least July 2017, he conspired with others to perpetrate a BEC scheme.

Furthermore, this scheme involved gaining unauthorized access to email accounts, sending false wiring instructions from spoofed emails to deceive victims into sending money to bank accounts controlled by the perpetrators.

In addition to wire fraud, Simon-Ebo and his co-conspirators also engaged in money laundering during the same period. They distributed stolen funds to “drop accounts,” moved the money to other accounts, withdrew cash, obtained cashier’s checks, and wrote checks to other individuals and entities. The intended loss for transactions directly involving Simon-Ebo was approximately $6,988,249, with an actual loss of at least $1,072,306. Simon-Ebo had direct control over at least $45,925 of the funds obtained from victims.

As a result of his guilty plea, Simon-Ebo has been ordered to pay a monetary judgment of $45,925 and fully compensate the victims, an amount agreed upon by all parties to be at least $1,072,306. He now faces the possibility of up to 20 years in federal prison for his involvement in the wire fraud conspiracy and money laundering conspiracy. This case highlights the serious consequences individuals may face for engaging in cybercriminal activities such as BEC schemes, which continue to pose a significant threat to individuals and businesses worldwide.

In December 2022, the FBI, FDA OCI, and USDA jointly issued a security advisory warning of the risks associated with business email compromise (BEC) attacks, particularly in the context of the hijacking of shipments of food products and ingredients. Such warnings underscore the importance of cybersecurity vigilance and the need to combat cybercrime on multiple fronts.

Reference:
  • Nigerian National Pleads Guilty To His Role In A Business Email Compromise Scheme
Tags: BECCyber NewsCyber News 2023CybersecurityEmail SecurityEmailsKosi Goodness Simon-EboNigeriaSeptember 2023South AfricaUSAVulnerabilities
ADVERTISEMENT

Related Posts

Kirsten Davies Nominated as Pentagon CIO

Kirsten Davies Nominated as Pentagon CIO

May 8, 2025
China’s Cyber Power Raises UK Concerns

China’s Cyber Power Raises UK Concerns

May 8, 2025
Europol Takes Down Global DDoS Services

Europol Takes Down Global DDoS Services

May 8, 2025
Nomad Thief Arrested for Role in Crypto Hack

NATO Hosts Locked Shields 2025 Cyber Defense

May 7, 2025
Nomad Thief Arrested for Role in Crypto Hack

NSO Group to Pay $167 Million to WhatsApp

May 7, 2025
Nomad Thief Arrested for Role in Crypto Hack

Nomad Thief Arrested for Role in Crypto Hack

May 7, 2025

Latest Alerts

CoGUI Targets Consumer and Finance Brands

COLDRIVER Hackers Target Sensitive Data

Cisco Fixes Flaw in IOS Wireless Controller

New OttoKit Flaw Targets WordPress Sites

Mirai Botnet Exploits Vulnerabilities in IoT

Critical Kibana Flaws Allows Code Execution

Subscribe to our newsletter

    Latest Incidents

    Masimo Cyberattack Disrupts Manufacturing

    Cyberattack Targets Tepotzotlán Facebook

    West Lothian Schools Hit by Ransomware

    UK Legal Aid Agency Faces Cyber Incident

    South African Airways Hit by Cyberattack

    Coweta County School System Cyberattack

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial