Cybercrime Costs Georgians $144 Million in 2021, Authorities Say
A staggering $144 million was lost to cyber-enabled crimes in Georgia last year, with business email compromise schemes, investment scams, and confidence or romance scams topping the list of frauds. The figures are part of a larger national problem, with losses reaching into the billions.
Combating Cybercrime
The Georgia Cyber Fraud Task Force, a collaboration between local, state, and federal agencies, is working to combat these crimes through sustained community outreach and training for law enforcement and prosecutors. One key focus area is identifying and disrupting “money mules,” individuals who open US bank accounts to receive proceeds from frauds and forward the funds as directed.
The Role of Money Mules
Money mules play a critical role in cyber-enabled fraud schemes, often acting as contractors in the economy of cybercrime. The anonymity with which these schemes operate works to the advantage of perpetrators, making it challenging for law enforcement to untangle the web of bank accounts associated with a single mule and identify victims who deposited money into those accounts.
Task Force Efforts
The Georgia Cyber Fraud Task Force is addressing this challenge by proactively dealing with money mules in their area of responsibility and taking referrals from law enforcement across the country. In the past year, the task force has referred leads to local and state law enforcement for investigation of money mules.
Recent Sentencings and Charges
Several Georgians have recently been sentenced or charged in connection with cyber-enabled fraud schemes, including:
- Bernard Kaba, who pleaded guilty to theft by taking in relation to business email compromise fraud proceeds
- Borin Khoun, who was sentenced for his role in romance and inheritance scams
- Olayemi Fadipe, who was charged in connection with a romance/confidence fraud scheme
Reporting Fraud and Protecting Yourself
Victims of cyber-enabled fraud schemes are encouraged to report the fraud to their bank, local law enforcement agency, and the Internet Crime Complaint Center (IC3). The IC3 is also providing resources for individuals to protect themselves from online scams, including tips on:
- Confirming transaction instructions
- Avoiding online relationships that request money