The criminal was sentenced to 10 years for laundering $4.5 million through email hacking and romantic schemes.
The US Department of Justice has sentenced a 31-year-old man to 10 years in prison for laundering more than $4.5 million through BEC and romantic fraud.
According to court documents, Malachi Mullings opened 20 bank accounts in the name of the defunct company The Mullings Group LLC., which served as a channel for laundering fraudulent proceeds from at least 2019 to July 2021.
The organized scheme brought in millions of dollars thanks to BEC attacks targeting the health insurance program, private companies and other organizations, as well as romance scam schemes targeting the elderly.
A BEC attack is a form of targeted cyberattack in which attackers trick unsuspecting managers and employees into sending money or sensitive data to fraudsters accounts using various social engineering tricks. Such attacks are aimed at deceiving companies, often using compromised accounts to send phishing emails to suppliers, encouraging them to make a bank transfer or change their bank details for future payments.
It is noted that together with his accomplices, Mullings participated in financial transactions aimed at concealing the proceeds of fraud, and used part of the proceeds to purchase luxury goods, such as expensive cars and jewelry.
In one case, Mullings laundered $310,000 that was fraudulently transferred from the Medicaid social security program and was intended to reimburse hospital expenses. In another case, Mullings earned $260,000 from the romance scam, which he used to buy a Ferrari.
In January 2023, Mullings pleaded guilty to one count of conspiracy to launder money and seven counts of various money laundering offences.
The US Department of Justice has sentenced a 31-year-old man to 10 years in prison for laundering more than $4.5 million through BEC and romantic fraud.
According to court documents, Malachi Mullings opened 20 bank accounts in the name of the defunct company The Mullings Group LLC., which served as a channel for laundering fraudulent proceeds from at least 2019 to July 2021.
The organized scheme brought in millions of dollars thanks to BEC attacks targeting the health insurance program, private companies and other organizations, as well as romance scam schemes targeting the elderly.
A BEC attack is a form of targeted cyberattack in which attackers trick unsuspecting managers and employees into sending money or sensitive data to fraudsters accounts using various social engineering tricks. Such attacks are aimed at deceiving companies, often using compromised accounts to send phishing emails to suppliers, encouraging them to make a bank transfer or change their bank details for future payments.
It is noted that together with his accomplices, Mullings participated in financial transactions aimed at concealing the proceeds of fraud, and used part of the proceeds to purchase luxury goods, such as expensive cars and jewelry.
In one case, Mullings laundered $310,000 that was fraudulently transferred from the Medicaid social security program and was intended to reimburse hospital expenses. In another case, Mullings earned $260,000 from the romance scam, which he used to buy a Ferrari.
In January 2023, Mullings pleaded guilty to one count of conspiracy to launder money and seven counts of various money laundering offences.
