From theregister.com
Interpol and cops in Africa have arrested a Nigerian man suspected of running a multi-continent cybercrime ring that specialized in phishing emails targeting businesses.
His alleged operation was responsible for so-called business email compromise (BEC), a mix of fraud and social engineering in which staff at targeted companies are hoodwinked into, for example, wiring funds to scammers or sending out sensitive information. This can be done by sending messages that impersonate executives or suppliers, with instructions on where to send payments or data, sometimes by breaking into an employee’s work email account to do so.