Authorization Email Compromise FBI 
PYMNTS
JUNE 12, 2018
Federal authorities including the Department of Justice and the FBI announced Monday (June 11) that law enforcement arrested 74 people in the U.S. and overseas for engaging in international business email compromise schemes aimed at intercepting and stealing wire transfers from individuals and businesses.
PYMNTS
FEBRUARY 12, 2020
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. There were almost 24,000 complaints in 2019 and, according to the FBI, each successful attack costs roughly $75,000.
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PYMNTS
APRIL 26, 2019
Business email compromise (BEC) scams are gaining traction, and bilking unwitting individuals and companies out of an increasing amount of money. Recently announced statistics from the Federal Bureau of Investigation (FBI) bear out this trend. million cyber scam that is now being investigated by the FBI. billion in 2018.
Seon
JUNE 15, 2023
Business email compromise (BEC) attacks can be a major risk to businesses’ finances and reputations. According to the FBI’s 2020 Internet Crime Report, 2020 alone saw 791,790 complaints of suspected internet crime – an increase of more than 300,000 since 2019. What Is a Business Email Compromise Attack?
PYMNTS
SEPTEMBER 11, 2019
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.
PYMNTS
JULY 20, 2016
The Federal Bureau of Investigation has been targeting the Business Email Compromise for years, warning companies to be aware of fake supplier emails and invoices requesting firms to wire funds. According to authorities, there has been a 1,300 percent increase in losses since Jan. billion from unsuspecting companies.
PYMNTS
MARCH 23, 2020
The financial institution (FI) vowed last April to refund all victims of authorized push payment fraud, which often occurs after individuals are tricked via calls, texts and emails posing as legitimate bank staff. million in estimated refunds were paid by U.K.
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