ICC loses Rs 20 crore in a phishing attack: Check details

The International Cricket Council (ICC) has become a victim of online fraud carried out by someone in the US acting as its vendor. ICC is reported to have lost Rs 20 crore in the fraud for which investigations have begun.

ICC falls prey to a phishing attack, ends up losing Rs 20 crore

It’s official that the International Cricket Council (ICC) has ended up transferring Rs 20 crore to someone in the US, which claimed themselves to be a usual ICC vendor.

How the scam worked?

How it worked is that someone from the US acted as the vendor of ICC and emailed ICC using a fake email address. This scam is stated as the BEC scam, which is a form of phishing.

Apparently, ICC didn’t check the email ID and ended up giving Rs 20 crore only to know later that it was duped.

As per reports, the US-based party contacted the Dubai office of the Cricket Council. And, ICC’s CFO is said to have carried out the transaction. Currently, it is unclear whether the wire transfer was done one time or multiple transfers were done.

There’s complete silence by ICC on this matter. However, the investigation has begun so we should get more deets soon.

What is a BEC scam?

BEC scam is a form of phishing where criminals email acting as if they are from a known and official source. They then deceive others into transferring funds or other sensitive information. BEC stands for Business Email Compromise.

What is phishing? 

Phishing is a type of attack where criminals steal user data, credentials, and other sensitive information over email or messaging.