ICC launches investigation after Falling Victim to Money Fraud, Loses USD 2.5 Million

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ICC, the apex body of the cricket council has fallen victim to cybercrime recently, losing a massive chunk of money through online fraud.

ICC has recently lost $2.5 million, which is about INR 203 crores after an online scam of unknown origin. Following that, ICC has launched a probe with the assistance of US Law Enforcement agencies.

The online fraud method, known as Phishing, is a form of cybercrime that lures established entities to share confidential information through online modes. Here the fraudsters pose as legitimate institutions or persons and lure the companies over email, phone calls or even via text messages.

It has come as a massive surprise that a governing body like ICC has fallen victim to this vicious conspiracy. Although 2.5 million USD is just a mere amount for BCCI, it has huge ramifications for associate nations and other budding countries. An associate nation with ODI status generally receives USD 500,000 to 1 million per annum, hence this has come as a body blow to them.

"It can't be true. An ODI Associate 13-20 ranked can get anything between 500k to one million," an associate nation official said in disbelief to Cricbuzz.

It is to see how ICC can recuperate the lost amount as the scammers have already scammed this gigantic amount from them.