Business Email Compromise news and trends

BEC and Phishing Attacks Surge, Exploiting New Domain Names
Cybersecurity // December 06, 2024

Technology begets opportunity, for both successful companies and fraudsters. And today’s rising tide of cybercrime has unveiled a new frontier of fraud, one where malicious entities and cybercriminals are focused on exploiting the building blocks of digital identity—domain names, hosting services and financial supply chains....

FBI Alerts Companies About Fraudulent Emergency Data Requests
Cybersecurity // November 11, 2024

The FBI is alerting companies that cybercriminals are using compromised U.S. and foreign government email addresses to send fraudulent emergency data requests. By sending these fraudulent requests to U.S.-based companies, the hackers are looking to gain access to the companies’ holdings of their customers’ personally...

Securing the Cyber Perimeter Starts With Safeguarding Corporate Emails
Cybersecurity // November 01, 2024

Corporate email accounts are among the most exploitable entry points for scammers. Phishing, ransomware and business email compromise (BEC) attacks cost companies billions of dollars annually, often originating from compromised email credentials. That’s why the news this week (Oct. 30) that Amazon’s WorkMail enterprise email...

Why Business Email Compromise Scams Target Valuable B2B Relationships
Security & Fraud // August 14, 2024

Email remains a cornerstone of communication, especially within business-to-business (B2B) relationships. This reliance on email, however, has also made it a prime target for savvy cybercriminals. And with the news that Luxembourg-based chemicals and manufacturing giant Orion SA lost around $60 million after being targeted...

Interviews & Exclusives
91% of Mid-Sized Firms Plan to Expand AP Automation to Combat Fraud

January 15, 2025
As cybercriminals target more businesses, accounts payable (AP) departments are more vulnerable to fraud. With more than 80% of U.S. companies affected by sophisticated digital payment fraud, the need for reliable security systems is crucial. While digital transformation has brought many benefits, outdated payment systems can leave organizations exposed to emerging threats. According to a […]

BEC and Phishing Attacks Surge, Exploiting New Domain Names

December 06, 2024
Technology begets opportunity, for both successful companies and fraudsters. And today’s rising tide of cybercrime has unveiled a new frontier of fraud, one where malicious entities and cybercriminals are focused...

As Fraud Rates Rise, Businesses’ Worst Threat May Be in Their Inboxes

April 26, 2023
Despite the increasingly sophisticated weapons fraudsters have on hand to execute their scams, business email compromise (BEC) attacks remain one of their most effective ploys. The FBI estimates U.S. businesses lost...

Spike in Remote Workers Raises Odds of Hacks and Scams for Businesses

November 03, 2021
It’s a sad but simple truth: The move to remote work has increased the opportunity for fraud. Employees are more likely to make significant, serious requests over emails that are...

Quick Reads
FBI Alerts Companies About Fraudulent Emergency Data Requests

November 11, 2024
The FBI is alerting companies that cybercriminals are using compromised U.S. and foreign government email addresses to send fraudulent emergency data requests. By sending these fraudulent requests to U.S.-based companies, the hackers are looking to gain access to the companies’ holdings of their customers’ personally identifying information (PII), the FBI said in a Nov. 4 […]

BEC Scam Takes $15M In Widespread Attack

October 01, 2020
Mitiga is working with law enforcement after uncovering a widespread business email compromise (BEC) scam that has netted more than $15 million. A Medium post from Mitiga stated cybercriminals impersonated...

FinCEN Warns Of COVID Scams Targeting FIs, Consumers

August 02, 2020
The Financial Crimes Enforcement Network (FinCEN) issued a press release warning financial institutions (FIs) and consumers about pandemic-related scams, including some connected to cryptocurrency. FinCEN warns that bad actors “are...

Bitcoin Daily: FBI Says Nigerian BEC Scam Netted Millions With Some Converted To Bitcoin

July 13, 2020
Two Nigerian scammers known for allegedly defrauding American companies for tens of millions of dollars that they transferred into bitcoin were extradited to the U.S. from Dubai, Cointelegraph reported. The...