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Cyber Security

BEC Scams Average $301 Million Per Month In Illegal Transfers

The frequency of business email compromise (BEC) scams has increased year over year and so did the value of attempted thefts, reaching a monthly average of more than $300 million. Companies lost $1.2 billion to this sort of cybercriminal activity that aims to obtain funds by posing as a customer or upper management personnel in a company in order to trick key individuals in the organization into wiring funds to an attacker-control bank account. The Financial Crimes Enforcement Network compiled statistics about BEC incidents occurring over the past two years.

Source: https://www.bleepingcomputer.com/news/security/bec-scams-average-301-million-per-month-in-illegal-transfers/

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