Micron Associates

Massive scams with a global scope referred to as "the forged international bank transfer order scams" have been targeting for approximately the last two years, the subsidiaries of large French companies located within the European Union or the foreign subsidiaries of companies based in France.

From a French perspective, this phenomenon represents, over such period, more than 400 attempted or committed offences, for which the damages are estimated to exceed 200 million Euros.

According to the Serious Financial Crime Office of the French Judicial Police (Office Central pour la Répression de la Grande Délinquance Financière de la Direction Centrale de la Police Judiciaire) (the "OCRGDF"), which has identified with great precision the modus operandi of these crooks, the authors of these offences all operate by telephone. The tracing of the fraudulent transfers has in particular enabled to determine that the funds identified to China for final destination and more particularly banks in the Zhejiang province.

To organize their "forged international bank transfer order scams," the criminal organizations have broken down their actions into several steps:

The Preparatory Acts For The Scams

Firstly, the criminal organization proceeds with the "social engineering" of the targeted companies. To this effect, the criminal organization purchases via the Internet, from organizations such as "Infogreffe," the relevant information on the company, i.e. trade and companies registry extract ("K-bis extract"), indebtedness situation, by-laws, articles of association, files of the last instruments, minutes of the general meetings, annual accounts, background of the amendments, etc.

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