Sophistication off the Charts When Cybercriminals Cash Out

You know those unsolicited job adverts that fill up your spam folder? They might be from a criminal gang…:

[…] One is the practice of recruiting money mules. Cybercriminals prey on legitimate job seekers to extract funds. It involves job advertisements that even come with references to diversity, equity, and inclusion commitments.

They are also redoubling their efforts to target insiders within financial institutions to undermine compliance scrutiny on know-your-customer (KYC) and due diligence checks. The stolen money is often converted into property and jewelry to hold the value and evade law enforcement attention at the same time, with experienced cybercriminals often using smaller conversions to avoid detection.


Original article here