Watch the Drop! A Case Study in Transnational Cyber-Criminal Money Laundering

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Presented at CODEBLUE2018@TOKYO 2018 by

Rikki George

In June 2018, the US FBI announced the success of two international operations, which led to the arrest of more than 80 parties connected to BEC efforts and nearly $100 million in stolen funds. The recently unsealed indictments of Operation Wire Wire and Operation Keyboard Warrior expose the money laundering methodologies employed by both those named and unnamed. Used to exploit the financial sector by moving stolen funds through drop accounts and converting to "clean" currency (fiat or cryptocurrency), money laundering techniques were an operational backbone for webs of people in the US, Nigeria, Canada, Mauritius, and Poland during the crackdowns. This presentation will demonstrate how analysis of these laundering networks can unearth more nefarious organized crime and shed light on open-source resources investigators can use to expand upon information in indictments.