Just How Lucrative Are BEC Scams?

GovInfoSecurity.com

Doug Olenick

A Nigerian national who has been extradited to the United States allegedly laundered millions of dollars stolen in business email compromise scams, according to the Justice Department. He flaunted his lavish lifestyle on social media, prosecutors say.

Ramon Olorunwa Abbas, 37, who also goes by the name "Ray Hushpuppi," arrived in Chicago Friday after being extradited from Dubai on a charge of conspiring to launder money. He and at least two co-conspirators allegedly ran an operation that scammed and then laundered millions of dollars from a wide net of victims, according to the U.S. Department of Justice.

"BEC is one of the most...

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