'Florentine Banker' email attack steals thousands from private equity funds

Researchers at Check Point have revealed how a sophisticated cybercrime gang managed to trick three UK private equity firms to steal hundreds of thousands of pounds. The gang, named 'The Florentine Banker,' got away with over £500,000 following a complex business email compromise (BEC) attack. Over several months, the Florentine Banker focused on its targets, manipulating email conversations, registering lookalike web domains, and cashing out wire transfers in phases. All in all, four separate bank transactions attempted to transfer £1.1M to unrecognized bank accounts. Emergency intervention by Check Point enabled the recovery of £570,000 of the transferred cash, leaving the… [Continue Reading]