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Morning Webinar - Latest Developments in On-line Scam Investigations

  • 30 Mar 2021
  • 8:00 AM - 10:00 AM
  • 42


  • Applicable to ACFE HK / ACFE Members, Students / Members of ACAMS, ASIS, ACCA, CIMA, HKICPA, IIA, ISACA and HKSI only

Registration is closed

Webinar platform: Cisco Webex
Language: English
Award: 2 CPE points

Please refer to the event flyer for registration guideline and details.


According to the Internet Crime Complaint Center (IC3) of the US Federal Bureau of Investigation (FBI), in 2019, IC3 received a total of 467,361 complaints with reported losses exceeding $3.5 billion. The top three crime types with the highest reported losses were Business Email Compromise (“BEC”) Confidence/Romance Fraud, and Spoofing. The IC3’s Recovery Asset Team (RAT), which assists in recovering funds for victims of BEC schemes, celebrated its first full year (in 2019) of operation. During its inaugural year, the RAT team assisted in the recovery of over $300 million lost through on-line scams, boasting a 79% return rate of reported losses. A security vendor’s BEC research in 2020 found BEC actors are not only coming from Nigeria but in 50 different countries, yet only half of the scammers they identified were located in Nigeria. Surprisingly, a quarter of all BEC attackers had a home base in the United States.

Money mules, one of the most important components of the BEC financial supply chain, were also observed around the world. But payments directed to mule accounts based in Hong Kong were than six times their stateside counterparts. FINCEN's BEC updates also named China and Hong Kong as the top 5 prominent destinations of BEC-derived funds. In this webinar, the speakers will shed the light on the BEC attacks situations in Hong Kong with actual examples from their investigations (victim's information has been withheld due to NDAs).  Recommendations and advice for prevention and detection will be provided at the end of the presentation and in the Q & A session.


Frankie Li CISSP, GREM (Gold Paper), GCFA, GCFE, GXPN and GCTI & Dan Kelly – Cybersecurity Experts

Frankie Li is a world-renowned expert in malware and cyber threat analysis and holding multiple advanced certifications. Award winner of the SANS Gold Paper (the “Oscars gold award equivalent” in the cyber security world), his research results were well accepted and published in various famous cyber security journals and conferences. Frankie is frequently invited to speak at top-notch security conferences worldwide, including the US Black Hat conference, the High-Tech Crime Investigation Association (HTCIA) conference and the Cyber Security Consortium. He is also frequently invited by law enforcement agencies globally to deliver training to their cyber security and technology crime units. Frankie is teaching Digital Forensics, Malware Analysis and Reverse Engineering to HKU Postgraduate students, and a SANS mentor coaching the cybersecurity and digital forensics industry practitioners. He is also a trainer for various law enforcement agencies such as the Hong Kong Police Force.  Dan Kelly is an internationally recognised industry leader in threat intelligence and cyber security. At Area 1 Security Dan works to defend some of the largest organisations in the world against targeted attacks, phishing and BEC criminals.

Together, Reducing Fraud Worldwide

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