Blog | G5 Cyber Security

Business Email Compromise Is a $26 Billion Scam Says the FBI

FBI’s Internet Crime Complaint Center (IC3) says that Business Email Compromise (BEC) scams are continuing to grow every year. IC3 received victim complaints regarding 166,349 domestic and international incidents, with a total exposed dollar loss of over $26 billion. BEC scams have been reported throughout all U.S. States and in 177 countries around the world according to IC3, with scam-related transfers having been sent to banks from roughly 140 countries. The total reported loss for this scam from January, 2018, to June 30, 2019 was $8,323 after analyzing 1,354 complaints received by IC3.

Source: https://www.bleepingcomputer.com/news/security/business-email-compromise-is-a-26-billion-scam-says-the-fbi/

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