Amil Hassan Raage was arrested for defrauding two U.S. Universities of more than $870,000 as part of a business email compromise (BEC) fraud scheme he ran during last year. BEC (also known as Email Account Compromise – EAC) scams are fraud schemes where cybercriminals deceive an organization’s employees into wiring money to entities they trust but whose bank accounts were swapped to ones controlled by the crooks before the initial contact. Raage pleaded guilty of receiving multiple payments totaling $749,158.37 from the University of California San Diego (UCSD) and $123,643.77 from a Pennsylvania university.
Source: https://www.bleepingcomputer.com/news/security/scammer-arrested-after-defrauding-us-universities-of-over-870k/