FBI says BEC scams netted thieves more than $12 billion between 2013 and 2018. The most costly form of cybercrime stems from a complex type of fraud known as the Business Email Compromise or BEC scam. The fraudsters behind the Nigerian prince email scams have long since branched out into far more serious and lucrative forms of fraud, including account takeovers, phishing, dating scams, and malware deployment. This post examines the work of a large, private group of volunteers dedicated to tackling the problem from many different angles.”]
Source: https://krebsonsecurity.com/2018/10/how-do-you-fight-a-12b-fraud-problem-one-scammer-at-a-time/