FBI recovers $14M from bogus business account wire transfers

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Federal authorities announced Monday that they had "disrupted" what they call "Business Email Compromise" schemes, which involve a malicious actor sending a phishing email and somehow convincing employees with access to a company's financial credentials to transfer money fraudulently. The FBI added that $2.4 million dollars was seized, while $14 million in "fraudulent wire transfers" was recovered.

Seventy-four people were arrested worldwide, including 42 in the United States, 29 in Nigeria, and three others in Canada, Mauritius, and Poland.

"Fraudsters can rob people of their life's savings in a matter of minutes," Attorney General Jeff Sessions said in a statement. "These are malicious and morally repugnant crimes. The Department of Justice has taken aggressive action against fraudsters in recent months, conducting the largest sweep of fraud against American seniors in history back in February."

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