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Cyber Security

BEC Attacks: Nigeria No Longer the Epicenter as Losses Top $26B

BEC fraudsters now have bases of operation across at least 39 counties and are responsible for $26 billion in losses annually and growing. The social-engineering scam has expanded well beyond its historic roots in Nigeria. BEC attacks currently make up a full 40 percent of cybercrime losses globally, impacting at least 177 countries. 25 percent of these attacks originated in the U.S., specifically clustered in the states of California, Florida, Georgia, New York and Texas. The average wire transfer in a BEC scam is around $80,000.

Source: https://threatpost.com/bec-attacks-nigeria-losses-snowball/160118/

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