Intricate fraud impacting Electrolux revealed
08.06.2020Back to news
The author of multiple fraudulent schemes which compromised the processes of Electrolux and another company has admitted to committing a crime. Kenenty Hwan Kim, an expert in BEC attacks (Business Email Compromise), targeted organisations pretending to be one of the executives in the counterfeited emails.
Electrolux, multinational home appliance manufacturer, and Solid Bridge, US construction company, got affected in the breach.
Whereas Solid Bridge was tricked into transferring $200,000 which were sent to Kim’s sham subcontracting company as the owner asked to mail payment to another address due to some alleged issues. The domain name was fabricated.
The fraud robbed Electrolux of about $300,000 in a very similar scheme. The company was convinced to an organisation which seemed to be well known for the manufacturer but appeared to be fake.
The obtained money was allocated among a few bank accounts and then placed offshore.
Kim has reportedly been involved into a credit card scam in which he obtained people’s PII and charged the card owners $200,000 in total.