The meteoric rise of digitisation across the globe has also seen a steep increase in the rate of cybercrime. People getting cheated through digital modes has become a common norm these days. Adding to the list of victims, the International Cricket Council is the newest name.
The global cricketing body has suffered a loss of about USD 2.5 million which was wire transferred. Though the exact amount is yet to be known, the report stated the scam originated in the United States of America last year. However, the ICC has not spoken anything officially as the incident has been reported to law enforcement agencies in the USA and an investigation is underway.
The actual mode of the scam is also not known yet. Whether the frauds directly got in touch to get the money transferred from the ICC account or consulted someone within the council. Also, no information on whether it is one single transaction or the money was transferred multiple times.
So — cricket is not headed to the 2028 Los Angeles Olympics.It’s official.
The International Olympic Committee (IOC) has finally conveyed the same to the International Cricket Council (ICC).
ICC will now have to make a fresh pitch for the 2032 Brisbane Olympics.
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— KSR (@KShriniwasRao) January 20, 2023
What is a BEC scam?
The BEC scam is a kind of online phishing which tricks companies or individuals to make wire transfers. In a report submitted by the FBI to the US Government, it was stated that the country’s Internet Crime Control Center had received BEC-related claims worth more than $2.4 billion in 2021.
“The scam has progressed from spoofed e-mails purportedly from chief executive officers requesting wire payments to fraudulent locations, to impersonation of vendor e-mails; spoofed lawyer e-mail accounts; diversion of payroll funds; the targeting of the real estate sector; and fraudulent requests for large amounts of gift cards,” the FBI report said.
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