Two Nigerians, Emmanuel Mmaduike and Olawale Kashimawo who operated a London-based cyber crime group have been jailed after stealing more than £1m.
According to the UK National Crime Agency, the two Nigerians spent the money on “a lavish lifestyle”. The pair hired a helicopter and drove “flash cars”, and “posed for photographs of themselves with wads of money, expensive watches and drinking champagne”.
Two Nigerians, Emmanuel Mmaduike and Olawale Kashimawo who operated a London-based cyber crime group have been jailed after stealing more than £1m.
According to the UK National Crime Agency, the two Nigerians spent the money on “a lavish lifestyle”. The pair hired a helicopter and drove “flash cars”, and “posed for photographs of themselves with wads of money, expensive watches and drinking champagne”.
They ran their scams from southeast London after obtaining thousands of business email addresses and passwords which they used to divert payments away from legitimate companies to themselves.
Known officially as “business email compromise” (BEC), the attack involves the criminal impersonating a senior executive and attempting to convince the victim to transfer funds.
UK’s National Cyber Security Centre said BEC scams are one of the fastest growing forms of cyber crime. According to a 2017 report by networking company Cisco, cyber criminals made $5.3bn (£3.9bn) from BEC in just three years.
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