Israeli threat group uses fake company acquisitions in CEO fraud schemes

A group of cybercriminals based in Israel has launched more than 350 business email compromise (BEC) campaigns over the past two years, targeting large multinational companies from around the world. The group stands out with some of the techniques it uses, including email display name spoofing and multiple fake personas in the email chains, and through the abnormally large sums of money the attempt to extract from organizations.

“Like most other threat actors that focus on business email compromise, this group is fairly industry agnostic in their targets,” researchers from cloud email security firm Abnormal Security said in a report. “They target multiple industries simultaneously, including manufacturing, financial services, technology, retail, healthcare, energy, and media.”

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