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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.

Americans Lose a Record $10 Billion to Fraud in 2023; Mostly Due To Investment Scams

The US Federal Trade Commission (FTC) has disclosed that people in the United States lost a record $10 billion to fraud in 2023, a 14% increase from 2022. Nearly half of the losses were ...
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[Cybersecurity Awareness Month] Spoofy Steve's Business Email Compromise Scams You Need to Watch Out For

Like a ghost, most business email compromise (BEC) scams are able to sneak through most technical defenses and end up in end-user inboxes.
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Top 10 Trends in Business Email Compromise for 2023

Researchers at Trustwave have published a report outlining trends in business email compromise (BEC) attacks, finding that these attacks spiked in February of 2023.
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Business Email Compromise Now Has a $50 Billion Price Tag

The latest data from the FBI’s Internet Crime Complaint Center (IC3) ups the estimate for the cost of losses and exposure through business email compromise (BEC) attacks from 2013 through ...
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New Report Shows Social Engineering and Business Email Compromise Attacks Have Drastically Increased in 2023

Email-based social engineering attacks have risen by 464% this year compared to the first half of 2022, according to a report by Acronis. Business email compromise (BEC) attacks have also ...
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New Social Engineering Tactic Uses PDFs in Business Email Compromise Attacks

Legitimate services can be exploited in social engineering, including business email compromise (BEC) attacks.  Researchers at Check Point describe one current BEC campaign that’s using ...
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Microsoft Describes a Sophisticated Phishing Campaign that Targeted Several Financial Organizations

Microsoft describes a sophisticated phishing campaign that targeted several financial organizations.
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[Microsoft Warning] A 38% Spike In Business Email Compromise with new Cybercrime-as-a-Service

Microsoft has observed a thirty-eight percent increase in cybercrime-as-a-service (CaaS) offerings for launching business email compromise (BEC) attacks between 2019 and 2022.
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Business Email Compromise and “Confidential” Mergers and Acquisitions

A newly identified criminal organization has been observed running a large number of business email compromise (BEC) scams. Since February 2021, Abnormal Security reports the gang has ...
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Response-Based Business Email Compromise Contributes to 97% of Attacks

The malwareless and seemingly benign nature of business email compromise emails, mixed with impersonation techniques, are difficult to spot as being malicious, making them even more ...
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FBI: Business Email Compromise Attacks Are Being Used to Make Bulk Goods Purchases from Vendors

A new public service announcement focuses on a specific form of BEC attack using little more than a spoofed domain and common vendor payment practices to steal hardware, supplies and more.
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Australian Police Arrest Business Email Compromise (BEC) Operators

The Australian Federal Police (AFP) have arrested four alleged members of an organized crime group known for carrying out business email compromise (BEC) attacks, BleepingComputer ...
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The FBI's Public Service Warning of Business Email Compromise

The US FBI is warning of business email compromise (BEC) attacks designed to steal physical goods. While BEC attacks are typically associated with stealing money, criminals can use the ...
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Report Shows Business Email Compromise (BEC) Attacks Increase and Phishing Used as Initial Attack Vector in the Last Year

Secureworks has published a report looking at cybercrime over the course of 2022, finding that business email compromise (BEC) attacks nearly doubled last year. Additionally, attacks in ...
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Microsoft Warns of Business Email Compromise Attacks Taking Hours

According to Microsoft's Security Intelligence team, a recent business email compromise attack (BEC) has shown that threat actors are quickening the pace of these attacks, with certain ...
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Executive Impersonation Business Email Compromise Attacks Go Beyond English Worldwide

Despite hearing mostly about BEC attacks in English-speaking countries, analysis of new attack groups highlight the threat of these kinds of attacks in other languages.
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Business Email Compromise Gang Gets Jail Time for Stealing Millions

An international cybercriminal operation responsible for millions of dollars in business email compromise (BEC) scams has finally been dismantled.
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28% of Users Open BEC Emails as BEC Attack Volume Skyrockets by 178%

New data shows users aren’t scrutinizing emails used in business email compromise (BEC) attacks, allowing critical changes in banking details that would impact the victim's organization ...
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Do Not Let Ransomware Steal the Show – Business Email Compromise Is the Biggest Threat You Must Prepare For!

When it comes to cybersecurity, ransomware is the rockstar of threats. But taking a peek behind the curtain, business email compromise (BEC) causes huge financial losses.
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A Special Case of Business Email Compromise

Cloudflare warns that business email compromise (BEC) phishing has assumed a new form: vendor email compromise (VEC). The classic BEC case involves the impersonation of someone within an ...
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