Fraudster steals around $2.5 million from ICC, check details

The ICC’s Chief Financial Officer (CEO) and the financial department are under scrutiny. The incident came to light on Thursday.

Fraudster steals around $2.5 million from ICC, check details

Fraudster seals around $2.5 million from ICC

The International Cricket Council (ICC) has become a victim of online scams. The scam was operated in the United States of America. The governing body has reported it to the law-enforcement agencies in the USA, and a probe is underway.

Not a single official of ICC in Dubai has revealed anything about this incident yet. The ICC’s Chief Financial Officer (CEO) and the financial department are under scrutiny. The incident came to light on Thursday (January 19).

It has lost over 2.5 million, which is nearly equal to the fund given to a single associate team for a whole year. Even if the amount is not a great deal for the apex body, it has massive ramifications for the associate nations.

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ICC became the victim multiple times

ICC
Fraudster seals around $2.5 million from ICC

“It can’t be true. An ODI Associate 13-20 ranked can get anything between 500K to one million,” an associate national official told Cricbuzz.
As per Cricbuzz’s report, ICC became the victim of phishing not just once but multiple times. Fraudsters used Business E-Mail Compromise (BEC) to scam the ICC. The scammer created a fake email ID and lured the ICC by pretending to be an ICC consultant.

According to the Federal Bureau of Investigation (FBI), “spoofing of a legitimate, known e-mail address or the use of a nearly identical address to appear as someone known to or trusted by the victim. BEC scams are initiated when a victim receives false wire instructions from a criminal attempting to a bank account controlled by fraudsters.”

It’s not known yet about the route the fraudsters took to rob the money from the ICC account. Also, it’s not confirmed yet whether the transaction was done via multiple wire transfers or in one single payment.

Online fraud or phishing is one of the most common crimes happening all over the world. It’s evolving at a faster rate, and the criminals are getting sophisticated, which is why it is difficult to track them.

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