Remove 2017 Remove Email Compromise Remove Scams
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FBI, BBB Sound Another Business Email Compromise Alarm

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companies via the Business Email Compromise scam, reports in The East African said last week. Through Operation reWired, we are sending a clear message to the criminals who orchestrate these Business Email Compromise schemes that ‘I will keep coming after you, no matter where you are.’”.

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Email B2B Scams Cost $26B Over Last Three Years

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But that message is apparently lost on criminals, who, according to a new report, have stolen some $26 billion over the last three years in a scam generally known as “ business email compromise.”. This is not the first time the FBI has sounded a warning about business email compromise. Fraud Trends.

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The Big Spike In ‘CEO Fraud’

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As for the scams themselves, those varied widely both in terms of tactics and targets. As for the areas where scammers managed the biggest hits, business email compromise (BEC), confidence/romance fraud and spoofing were the top three types of crime in terms of monetary losses.

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FBI: BEC Scams Stole $1.2B In 2018

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Business email compromise (BEC) scams are gaining traction, and bilking unwitting individuals and companies out of an increasing amount of money. As reported in Threatpost , losses from such schemes nearly doubled from $675 million in 2017 to as much as $1.2 million cyber scam that is now being investigated by the FBI.

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Business Email Scam Losses Now Top $12 Billion

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Federal Bureau of Investigation released a public service announcement this week warning that business email compromise (BEC) scams are on the rise. The total value of funds redirected as a result of a BEC scam has now topped $12 billion, the FBI said, updating previous warnings of the scam and including data up to May 2018.

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US Judge Sentences Man For $25M Supplier Invoice Scam

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judge has sentenced a Nigerian man to three years and five months in prison for his role in a business email compromise scam. Adindu was accused of facilitating a scam to defraud businesses of more than $25 million by sending fraudulent invoices that appeared to be legitimate bills from suppliers or company executives. “I

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Surprise: The C-Suite Falls For Invoice Scams The Most

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Employees certainly need more training to be able to detect a business email compromise (BEC) when they see one. Here’s the problem: The professional who falls victim to eInvoice scams like the business email compromise is, more often than not, a C-Suite executive. Additional Attacks Putting the Enterprise at Risk.

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