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Ten percent of business email domains are protected from spoofing , according to recent Security Boulevard reports. The risk can also lead to fraudsters spoofing the email addresses of C-Suite executives to initiate payments to a fraudster’s account. According to local Kentucky Today reports, $1.5
The Business EmailCompromise (BEC) scam is jeopardizing millions of dollars for businesses of all sizes and industries. Brick sent $338,000 via wire to the fraudulent account. Brick was able to recover about $113,000 of the transfers, reports said.
percent increase in identity fraud victims since 2011, when 11.6 FBI Sees Wire Fraud Via Email Grow In 2016. From October 2013 through December 2016, a new report from the FBI suggests cybercriminals used business emailcompromise (BEC) scams to try and steal some $5.3 million in the U.S.
And after a brief dip in 2010 and 2011, the increase continued until it peaked in 2014, according to Financial Fraud Action UK. That’s agnostic to whether it gets realized as a wire or ACH transaction,” Rojas said. In 2009, it was 14 percent higher than levels seen the previous year. 2013 and Feb. 2016, according to the FBI.
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