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‘Scattered Canary’ BEC Scams Aim At US Firms

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Business enterprise compromise (BEC) scams are crossing borders, where fraudsters in Africa are targeting U.S. According to the site, the group is called Scattered Canary, and has plied its BEC trade over the past decade. The fraud evolved into romance scams a few years later, then BEC scams in 2015. “I

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 Justice Department Indicts 80 in Massive Online Fraud Scheme

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The individuals are charged with using business e-mail compromise (BEC) scams to dupe victims. Officials said that, as had been estimated by the FBI’s Internet Crime Complaint Center, more than 14,000 complaints tied to BEC have been reported, with $1.1 million that had been wired by district employees to BEC scam.

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Will Same Day ACH Rollout Spark A Fraud Spike?

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ODFI focuses on the origination of transactions, while RDFI concentrates on receiving transactions. It creates a better commerce environment between originators and beneficiaries,” he said. A total of 17,642 reports of BEC were reported to authorities between Oct. 2016, according to the FBI. billion, the FBI reported.