Presentation: Business Email Compromise and Money Mule Networks

Speaker: Kyle Weber, Supervisory Special Agent, Federal Bureau of Investigation (FBI)

Kyle Weber currently serves as a Supervisory Special Agent (SSA) in the White Collar Crime Branch of the FBI in Houston, Texas.  In this capacity, SSA Weber oversees a squad of agents who investigate money laundering, bank fraud, antitrust violations, violations of the Foreign Corrupt Practices Act, and other financial-related crimes.  Prior to coming to Houston, SSA Weber worked at FBI Headquarters where he oversaw and helped lead certain aspects of the FBI’s Counterterrorism Program.  As a field agent, SSA Weber investigated numerous federal criminal violations including public corruption, money laundering, healthcare fraud, bank fraud, mail fraud, wire fraud, antitrust, and more.  SSA Weber also spent five years on an FBI SWAT team and is a Certified Tactical Instructor and Firearms Instructor.  Prior to joining the FBI, SSA Weber worked as a Financial Center Manager for a Fortune 500 financial institution.  SSA Weber holds a Masters of Science in Accountancy, a Bachelors of Business Administration with a major in Accounting, a minor in International African Studies, and is a Certified Public Accountant.

Location: HESS Club, Houston:  5430 Westheimer Rd, Houston, TX 77056

Presentation Description:

Since 2013, when the FBI began tracking an emerging financial cyber threat called business e-mail compromise (BEC), organized crime groups have targeted large and small companies and organizations in every U.S. state and more than 100 countries around the world—from non-profits and well-known corporations to churches and school systems. Losses are in the billions of dollars and climbing.

At its heart, BEC relies on the oldest trick in the con artist’s handbook: deception. But the level of sophistication in this multifaceted global fraud is unprecedented, according to law enforcement officials, and professional businesspeople continue to fall victim to the scheme.

Carried out by transnational criminal organizations that employ lawyers, linguists, hackers, and social engineers, BEC can take a variety of forms. But in just about every case, the scammers target employees with access to company finances and trick them into making wire transfers to bank accounts thought to belong to trusted partners—except the money ends up in accounts controlled by the criminals.

CPE Credits: 1 CPE Credit

Agenda:

Learning Objectives:

• To learn the scope of business email compromise on businesses and individuals
• To identify techniques and tactics
  
• After attending this presentation, participants will be able to describe the basic concepts of how money moves after a phishing compromise
  

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Additional Information:

Delivery Method: Group Live
Prerequisites: Not Applicable
Field of Study: Specialized Knowledge and Applications [Fraud]
Who Should Attend:  Anti-fraud professionals, Auditors, Accountants, Attorneys, Investigators, Law Enforcement, Educators, Students
Advanced Preparation: None
Program Level: Basic

NASBA Sponsor No. 125230

The Houston Area Chapter of the Association of Certified Fraud Examiners is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.