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Email Security, Security News

BEC attack scams Texas school district out of $600,000

The Henderson, Texas school district was hit with a business email compromise (BEC) attack resulting in a $600,000 loss for the district. Only a few details on the attack have been issued by district officials. What has been made public is that on September 26 the district issued an electronic payment of $609,615.24 to RPR…
Executive Insight, Opinion

How to spot common business email compromise tax scams

There are many different types of Business Email Compromise (BEC) attacks, but the smartest and most likely to succeed are often timed to coincide with something that can lend them legitimacy, such as tax season. By infiltrating an organization to find a few useful details, scammers can craft email messages that are perfectly timed and…

BEC scammers picked off $5B, FBI says

Business E-mail Compromise (BEC) scams have now raked in a total of $5 billion, according to the Federal Bureau of Investigation (FBI). That’s a bump up from the $3.1 billion reported last year. The FBI report revealed 40,203 domestic and international incidents occurred from October 2013 to December 2016 with 22,292 U.S. victims. Total losses…

Why the $26 billion in BEC scams are worse than you think

Business email compromise (BEC) scams are one of the biggest money makers for cyber criminals. BEC attacks are also unique in that they rely on human behavior rather than sophisticated technology. Typical BEC scams use an authentic-looking email from a top executive to deceive subordinates into transferring money.   A lot of money. The FBI…

Persistent phishing: don’t take the bait from BECs

Cybercriminals are opportunists by nature, so it’s no surprise to see that they continuously exploit attack vectors that have been proven to show success. Of these attack vectors, phishing and business email compromises (BECs) are often the most fruitful. With the significant frequency and value of phishing and BEC scams, many criminals turn to this…
Cybercrime, Email Security, Government, Legal, Legal, Security News

Authorities arrest 281 alleged BEC scammers in ‘Operation reWired’ campaign

Law enforcement officials at home and abroad have arrested 281 individuals over a span of four months, in a massive crackdown on various business email compromise scams, the Justice Department announced yesterday. Dubbed Operation reWired, the coordinated campaign began in May 2019 and has resulted in 72 arrests in the U.S., and 167 in Nigeria,…
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