Homeland Security, Londonderry police announce return of $1.8 million in stolen funds
Nov. 6—Officials with Homeland Security Investigations and Londonderry police announced Wednesday they have recovered and returned approximately $1.8 million in funds that were stolen and diverted to Chinese bank accounts after a business email became compromised.
In August 2024, a furniture company in Londonderry, identified by officials simply as "Company 1," reported to Londonderry police wire transfers it suspected were fraudulent, totaling approximately $1.8 million to a commercial bank located in China.
According to police, the wire transfer was intended to be payment to a Chinese company, identified only as "Company 2," a known supplier for Company 1.
"Unbeknownst to Company 2, its business email had become compromised by an unknown actor," police said in a statement. "The hacker contacted Company 1 with updated wire instructions for payment of supplies, resulting in wire transfers for nearly $1.8 million to Chinese bank accounts not owned or controlled by Company 2."
Once personnel at Company 1 personnel became aware of the fraudulent transfers, they notified Londonderry police, who contacted HSI New England's Manchester office for assistance.
HSI Manchester contacted the HSI Regional Attaché office in China, who partnered with China's Ministry of Public Security and China law enforcement to freeze the thieves' accounts and recover the funds.
"A successful case of this magnitude, involving international collaboration, shows what teamwork, dedication, and hard work can do," Londonderry Police Det. Sgt. Chris Olson said in a statement. "Far too often, cases are dismissed at the local law enforcement level once it is discovered to have been perpetrated outside of the United States. This is an example of why that should not happen and how we can work together to bring justice to a victim."
HSI New England Special Agent in Charge Michael J. Krol said the case is an example of what can be achieved when law enforcement works together.
"Money lost to business email compromises are notoriously difficult to recover, but the united effort from our partners around the world allowed investigators here in New Hampshire and in China to track down the lost funds and return them to the victims," Krol said in a statement. "The victim company did everything right in this case after they realized they had been scammed. It is essential for victims of cybercrime to come to law enforcement as quickly as possible for the best chances at a successful resolution."
