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CEO Fraud Blog

News about the latest CEO fraud attacks. See how the bad guys actually do this and how much money companies lose to this type of scam.

Ex-Bank of America Employee Charged with Business Email Compromise Money Laundering

A three-person team – including a personal banker at Bank of America – have been indicted for reportedly being behind a BEC scam that took 5 companies for over $1.1 Million.
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U.K. Authorized Push Payment Scams Jump 71% in First Half of 2021, Taking in £355 Million

Surpassing credit card fraud in the U.K., scamming victims into sending money to a fraudulent bank account has taken the lead spot in fraud scams that could cost U.K. residents more than ...
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5th Circuit Court Finds Cyber Insurer Must Pay for $1 Million Social Engineering Attack

A simple social engineered Business Email Compromise attack resulted in fraud that the cyber insurer contended was not covered under the policy.
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Enterprise Organizations Have as Much as an 85% Chance of Receiving a BEC Attack Every Week

Business Email Compromise is a multi-billion dollar business, representing 43% of all cybercrime last year. Despite it being dwarfed in the news by ransomware, it represents a growing ...
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Business Email Compromise Scam takes New Hampshire Town for $2.3 Million

Social engineering is at the heart of this attack, where scammers successfully tricked a town into redirecting not just one but several bank transfers.
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BEC, Fraud, and Ransomware Attacks Are All on the Rise and Costing More Than Ever

New data from cyber insurer Coalition puts the spotlight on not only how much worse attacks are getting, but claim data paints the picture that organizations just aren’t ready.
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Email-Based Cyberattacks Double Between January and June

Over 2.9 Billion email-based threats were detected in the first half of 2021. Business Email Compromise, obfuscation, and living off the land reigned, according to new data from Zix.
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BEC and the Underworld's Resources

Researchers at Intel 471 have observed cybercriminals outsourcing talent for business email compromise (BEC) attacks. This tactic lowers the bar of entry for BEC attacks, which are ...
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BEC Attacks Are Targeting Lower-Level Employees

A new report from Barracuda found that most business email compromise (BEC) attacks are now targeting employees who aren’t in executive or financial roles.
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Microsoft Takes Down Homoglyph Domains

Microsoft has taken legal action to shut down eighteen domains that were being used in business email compromise (BEC) attacks. The sites in question used homoglyphs to impersonate ...
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Spear Phishing Impersonation Attacks Take on New Tactics to Become More Convincing and Effective

As part of Business Email Compromise attacks, spear phishing now plays a material role, with impersonation sitting firmly at the core of their social engineering tactics… in more ways ...
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Business Email Compromise Attacks Are Evolving, Becoming More Convincing and More Expensive

The “business” of BEC is becoming increasingly more lucrative for cybercriminals, as they develop new ways to defraud individuals and organizations of their money.
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A Popular Fraud Combo is Back: Elon Musk and Bitcoin

Researchers at Bitdefender warn that cybercriminals continue to impersonate Elon Musk in Bitcoin scams. One campaign that started on May 15 involved sending thousands of emails telling ...
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Wine-Themed Phishing Attacks Have Turned Sour During the Pandemic

Scammers took advantage of people’s desire to order wine online during the pandemic, Decanter reports. Researchers at Recorded Future disclosed in a recent report that wine-related ...
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Huge Business Email Compromise Campaign Targets More Than 120 Organizations

According to Bleeping Computer, Microsoft reported that a large business email compromise (BEC) campaign has targeted dozens of organizations. The industries targeted varied from real ...
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Cybercrime Skyrocketed in the US by 55%

According to data released by StockApps, the annual loss from any type of cybercrime in the US reached $4.2 billion in 2020. This turns into billions of dollars lost, and a 55% increase ...
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Another Tax Season, Another Opportunity for Scams

It’s the start of tax season. This is the time of year when we collect our receipts and tax forms and hope for a nice big refund from the U.S. government. Unfortunately, cybercriminals ...
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[On-Demand Webinar] Avoiding Business Email Compromise Phishing Scams During Tax Season

Taxes are unavoidable, and unfortunately, so are the annual tax-related phishing scams. This year, with the COVID-19 pandemic continuing to keep people working from home, cybercriminals ...
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Think Your Cyber Insurance is Going to Cover that $6 Million in Cyber Fraud? Think Again.

The latest tale of an organization falling victim to a business email compromise attack on their credit card processor highlights how very specific the scenario needs to be to see a ...
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1 in 4 Business Email Compromise Attacks Use Lookalike Domains to Trick Victims

The latest Data on BEC scams shows how the bad guys are using a mix of gmail accounts, increases in stolen wire transfers, and a shift to payroll diversions to trick you out of your money.
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