If you thought only a vulnerable common man could fall prey to phishing, think again. Even a business, with sufficient manpower and advanced technology to perform proper checks and balances, can fall victim to online deception.
Looks like fraudsters are finding new ways to ply their trade. How else to explain the International Cricket Council (ICC) being duped out of nearly $2.5 million online?
That the ICC has been cheated not once, but four times lately is even more infuriating. Authorities at the world governing body of cricket’s Dubai office had no idea they were victims of a online fraud until Thursday.
ICC officials remain silent on the matter citing an ongoing investigation, but TOI can confirm that payments were made to a US-based party, which claimed to be an ICC supplier. The fraudsters used an email ID that was apparently familiar to the ICC.
The scam took ICC members by surprise. The amount, nearly $2.5 million, is a huge sum for Associate Nations affiliated with the ICC, if not for a full member, and an Associate Nation official expressed dismay.
“I can’t imagine this happening at the ICC,” the European member said. His council would get between $500,000 and $100,000 in grants annually, something given to the Related Tips with ODI status.
The matter is under internal and external investigation, with ICC’s finance department focusing on how its staff were so ignorant they failed to do their due diligence and unblocked four times payments.
Looks like fraudsters are finding new ways to ply their trade. How else to explain the International Cricket Council (ICC) being duped out of nearly $2.5 million online?
That the ICC has been cheated not once, but four times lately is even more infuriating. Authorities at the world governing body of cricket’s Dubai office had no idea they were victims of a online fraud until Thursday.
ICC officials remain silent on the matter citing an ongoing investigation, but TOI can confirm that payments were made to a US-based party, which claimed to be an ICC supplier. The fraudsters used an email ID that was apparently familiar to the ICC.
The scam took ICC members by surprise. The amount, nearly $2.5 million, is a huge sum for Associate Nations affiliated with the ICC, if not for a full member, and an Associate Nation official expressed dismay.
“I can’t imagine this happening at the ICC,” the European member said. His council would get between $500,000 and $100,000 in grants annually, something given to the Related Tips with ODI status.
The matter is under internal and external investigation, with ICC’s finance department focusing on how its staff were so ignorant they failed to do their due diligence and unblocked four times payments.
