Business Email Fraud Investigation (BEC) – Identify the Breach & Which Domain was Hacked – DIGITPOL


Business Email Fraud Compromise (BEC) is soaring and companies are being affected, BEC is an exploit in which the attacker gains access to a corporate email account and spoofs the owner’s identity to defraud the company or its employees, customers, or partners of funds. Typically, attackers request funds to be transferred to an offshore location typically to Hong Kong, Digitpol reports the modus operandi is rampant.

Digitpol a global cybercrime investigation agency is providing assistance to affected firms by providing rapid response with an investigation, legal, and assistance with freezing funds wired to fraudsters’ accounts by liaison with local authorities to recover the stolen funds. Business Email Compromise (BEC) is a scam targeting companies who conduct regular wire transfers and have suppliers abroad, typically firms that have business with Asia or with offshore locations are at target. BEC attackers rely heavily on social engineering tactics to trick unsuspecting employees and executives. Hong Kong is a key target for transferring funds to Hong Kong and then onward to offshore jurisdictions or to mainland China.

Digitpol’s Business Email Compromise Investigation Team is certified computer forensic investigators and fraud examiners and can assist in all cases related to Email Scams and Fraud. In some cases, one of the parties was hacked, we can identify by examination of logs who was hacked and which IT system was breached.

Email fraud, scams, phishing attacks happens in most cases when cybercriminals find ways to hack into the email servers or accounts of small and medium companies, often targeting companies or investors conducting business with Asia countries. Cyber criminals gain access to email accounts and search through email accounts looking for sensitive information such as outstanding, unpaid invoices, or data relating to financial transactions and business between suppliers, vendors,s and clients. When cybercriminals identify a sale or a due invoice, the fraudsters then send various fictitious emails from the hacked email account or an email address replicated to the original posing to be in charge of the sale or due invoice to be paid, the fraudster is then asking for transfers of funds into a nominated bank account, usually giving an excuse that there is a problem at the bank and an alternative account needs to be used. It is common that the nominated account is in the same name as the company name or with a very slight change such as an extra letter. It is common for the bank account to be in the same city as the victim or client.

Offshore Bank Accounts – A Target

Internet fraud is rampant, and Hong Kong is a key target for the transfer of funds. Digitpol’s Hong Kong branch provides operational and forensic support to firms that have fallen victim to BEC fraud, email fraud, invoice fraud, and stolen funds that have been wired to bank accounts in Hong Kong. Digitpol provides assistance to foreign firms by acting on their behalf locally in Hong Kong. Digitpol’s legal partner is an expert in the recovery of funds in Hong Kong and mainland China, jointly the combination of investigative support and legal services we offer the International firm’s rapid response expertise to assist with the investigation, seizure, and recovery of stolen funds.

If you have transferred funds to a bank account in error, the following is urgent.

  1. Report the incident as soon as possible to your local police in the country you reside. Obtain the Police report or case number.
  2. Immediately alert your bank the transaction is fraudulent.
  3. Report the case to the Police in the location of the transferred bank account or engage Digitpol and its legal team to act for you by reporting the complaint to the Police and conducting an Investigation by liaising with the Police and the banks.

Hong Kong – To file a Police report in Hong Kong, this can only be done in person at the police station or by the E-Crime service. The Police will first need to be satisfied that a crime has been committed, this is done by the examination of evidence and the evidence that a crime took place. If enough evidence is presented the Police will take immediate action.

In the majority of cases related to Internet Fraud, the evidence of a crime is digital evidence, Digitpol can assist with compiling a forensic report that details how the fraud took place and the examination of forensic evidence such as digital data, computer forensics, and server logs. Digitpol will present your case to the Police and its legal partner can take civil action when required.

Are you affected by Business Email Compromise? 

If a Business Email Compromise happens to you, you need to respond quickly. BEC fraud can lead to major disruption and financial disasters.

Contact Digitpol’s hotlines or respond to us online.

Company Headquarters:Digitpol BV, HNK, Boogschutterstraat 1 – 43, 7324AE, Apeldoorn, The Netherlands

United Kingdom Office: 20 – 22 Wenlock Road London, N1 7GU U.K

Asia Office: 1402, 14/F, Tung Wai Commercial Building, 109-111 Gloucester Road, Wan Chai, Hong Kong

Phone: UK: +44 20 8089 9944

Phone: Netherlands: +31558448040

Phone Hong Kong: +85239733884

Jerry Simmons

I am Jerry Simmons and I focus on breaking news stories and ensuring we (“Digital Wall”) offer timely reporting on some of the most recent stories released through market wires about “Financial” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Digital Wall specializing in quicker moving active shares with a short term view on investment opportunities and trends. <strong>Address:</strong> 4042 Braxton Street, Sterling, IL 61081, USA <strong>Phone:</strong> (+1) 815-535-4324 <strong>Email: </strong>[email protected]

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