Interpol and authorities in Singapore and Timor Leste have collaborated to sequester $41 million exfiltrated following a business email compromise attack against a Singapore-based commodities organization, according to The Record, a news site by cybersecurity firm Recorded Future.
Attackers using an email address similar to one of the organization's suppliers were able to lure the firm to pay $42.3 million to a Timor Leste-based account, which was only realized to be fraudulent after complaints from the real supplier, reported Interpol.
However, coordination between the Singapore Police Force and Timor Leste authorities via Interpol's I-GRIP mechanism enabled the retrieval of $39 million from the threat actors' account, while a separate operation by Timor Leste police led to the seizure of another $2 million along with the arrest of seven individuals suspected to be involved in the BEC attack. "The cooperation between authorities in Singapore and Timor Leste in this case was exemplary and demonstrates how quick action through INTERPOL can help recover funds taken from the fraud victims and identify the perpetrators," said Interpol Financial Crime and Anti-Corruption Centre Director Isaac Oginni.
