CFCS Cybercrime & Digital Forensics Flashcards

Which type of cyberattack involves criminals infiltrating a business email system to redirect wire transfers to fraudulent accounts?

Answer: Business Email Compromise (BEC)

Business Email Compromise (BEC) is a sophisticated scam targeting businesses that perform wire transfers by compromising legitimate email accounts to redirect funds.

What term describes the process of tracing the movement of illicit funds through cryptocurrency transactions?

Answer: Blockchain forensics

Blockchain forensics involves analyzing the public ledger of cryptocurrency transactions to trace the flow of funds and identify illicit activity.

Which US agency maintains the Internet Crime Complaint Center (IC3) for reporting cybercrime?

Answer: FBI

The FBI operates IC3, which serves as a central hub for reporting internet-facilitated criminal activity in the United States.

What is 'ransomware-as-a-service' (RaaS) in the context of financial crime?

Answer: A criminal business model where ransomware developers lease tools to affiliates who split ransom proceeds

RaaS is a criminal enterprise model where malware developers provide ransomware tools to affiliates in exchange for a percentage of ransom payments, lowering barriers to cybercrime.

When investigating cybercrime proceeds, which cryptocurrency feature most complicates asset tracing?

Answer: Mixing/tumbling services

Cryptocurrency mixing or tumbling services obscure the origin of funds by pooling and redistributing coins, making blockchain forensics significantly more difficult.

What does the term 'smurfing' mean in the context of cyber-enabled money laundering?

Answer: Breaking large sums into smaller transactions to avoid detection thresholds

Smurfing (structuring) involves breaking large illicit sums into smaller deposits or transfers to avoid triggering currency transaction report (CTR) thresholds.