The International Cricket Council (ICC) has become a victim of a major financial scam that has seen them lose a sum of around US$2.5 million. The exact sum of money lost by the world cricket governing body has not yet been revealed but a media report confirms that the scam originated in the United States last year.

A report by EspnCricinfo claims that the scam was committed through the use of a Business E-mail Compromise (BEC). The Federal Bureau of Investigation (FBI) has described this as among the most financially damaging online crimes.

Even though several media reports have revealed details about this fraud, ICC has not given any first-hand information on the same. The reason for this could be an ongoing investigation into the matter. An official statement is expected only after there is clarity.

As per a report, the scammers creatred a fake email id and pretended to be an ICC consultant. Subsequently a voucher was sent to the finance wing of the ICC. While $500,000 in one instance was sent into the scammers account, the ICC yet couldn’t figure out that they were actually sending it to a fake account. They ended up making multiple such transactions.

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ICC could have funded more than one ODI associate nation with that sum

Even though the money lost doesn not mean much to worry about for Boards such as the BCCI, it could have funded more than one ODI associate nation ranked 13-20 who tend to receive $500,000 to $1 million in funding from the global governing body of the sport.

This is a bizarre incident and quite unheard of from an organsition of such repute. Despite several levels of security check a scam of such magnitude has taken plan which has meant left the ICC’s Chief Financial Officer (CFO) and the entire finance department at their headquarters in Dubai under scruitiny.

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