Big Bad BEC

Dec 9, 2019 10:15:46 AM By Stu Sjouwerman

A Chinese venture capital firm was scammed out of $1 million in a noteworthy BEC (Business Email Compromise, or CEO fraud) scam, CyberScoop reports. The million dollars was supposed to be ...

Business Email Compromise Topples Over $26 Billion in Losses

Dec 2, 2019 7:00:00 AM By Stu Sjouwerman

This lucrative business of tricking companies into fraudulently transferring funds into cybercriminal-owned bank accounts is showing signs of growing. Scammers use many forms of attack to ...

It's Happening The World Over: $300K Lost To Phone Scammer

Nov 21, 2019 5:51:23 AM By Stu Sjouwerman

A woman in Singapore lost $300,000 to a scammer posing as a Singtel customer service employee, according to the Straits Times. The scammer told the victim he would fix some problems with ...

IT Budgets Are on the Rise in Part Due to Organizational Concerns for Security

Nov 18, 2019 7:00:00 AM By Stu Sjouwerman

Security remains a primary driver as organizations work to establish budgets that keep IT cutting edge, competitive, and secure, according to new data from Spiceworks.

Your CEO's Email May Be Hacked And You Don't Even Know It

Nov 14, 2019 7:00:00 AM By Stu Sjouwerman

Hackers focused on CEO fraud (or Business Email Compromise - BEC) attacks often go to great lengths to hide the fact they have access to your CEO’s mailbox as part of a larger scam.

Here Is A New Term For Your Cybercrime Glossary: Vendor Email Compromise (VEC)

Nov 8, 2019 6:49:08 AM By Stu Sjouwerman

Agari’s latest Email Fraud & Identity Deception Trends report highlights the growing threat of vendor email compromise (VEC), according to SecurityWeek. This is a variety of business ...

"Staggering" Increase in Business Email Compromise--aka CEO Fraud

Oct 11, 2019 7:00:00 AM By Stu Sjouwerman

Mimecast’s quarterly Email Security Risk Assessment (ESRA) identified millions of dangerous emails making it through security filters, including a 269% increase in business email ...

Fake News and Deepfakes: Harmless Fun or the Future of Fraud?

Oct 10, 2019 12:35:09 PM By Stu Sjouwerman

We have all seen them. Fake news articles that get passed off as legit sources. Misleading memes. Entertaining videos that swap people’s faces. But what if these deception techniques were ...

CEO Fraud Attacks Now Use Deepfake Audio and AI to Mimic Executives Over the Phone

Sep 19, 2019 2:54:32 PM By Stu Sjouwerman

While deepfake video gets most of the attention on social media, it’s deepfake audio that is quickly becoming the cybercriminal’s tools of choice for committing fraud.

How Can You Check If Your Email Is Compromised?

Sep 16, 2019 6:52:18 AM By Stu Sjouwerman

Rudy Friederich, a KnowBe4 friend at Marshal Security LLC sent me the following interesting tips related to finding out if you are the victim of Business Email Compromise. He wrote:

FBI Cyber Warning: Attacks On Key Employees Up 100%, As 281 Are Arrested

Sep 12, 2019 6:21:21 AM By Stu Sjouwerman

Zak Doffman, contributor at Forbes reported: "There is a cyberattack epidemic hitting businesses around the world, targeting individuals responsible for requesting fund transfers or ...

The FBI Updates Their Numbers And BEC Is Now A 26 Billion Dollar Scam

Sep 10, 2019 1:32:55 PM By Stu Sjouwerman

FBI's Internet Crime Complaint Center (IC3) says that Business Email Compromise (BEC) scams —aka CEO Fraud—are continuing to grow every year, with a 100% increase in the identified global ...

CEO Fraud Overtakes Ransomware And Data Breaches In EMEA Cyber-insurance Claims

Sep 3, 2019 7:13:29 AM By Stu Sjouwerman

CEO Fraud—also known as Business Email Compromise—related cyber-insurance claims accounted for nearly a quarter of all claims in the EMEA region, AIG said.

Gift Cards Are Now the #1 Business Email Compromise Cash-Out Mechanism for Fraudsters

Aug 20, 2019 5:03:24 PM By Stu Sjouwerman

Overtaking wire transfers and payroll diversion, gift cards have taken a material lead as one of the easiest and least recoverable ways to cash out of a fraud scam.

Blank Emails Come Before BEC Fraud Attack

Aug 19, 2019 4:59:03 PM By Stu Sjouwerman

Business email compromise (or CEO fraud) has its reconnaissance phase, too. Researchers at Agari say they’ve found that blank, unsolicited emails are often an early sign that a BEC gang ...

Business Email Compromise Doubles in Incidents and Triples in Cost

Aug 9, 2019 5:54:07 PM By Stu Sjouwerman

The latest data from the U.S. government’s Financial Crimes Enforcement Network (FinCEN) shows fraud via business email is changing tactics and becoming more effective.

CEO Fraud hits B.C. lawyers for $2 million

Aug 9, 2019 3:12:16 PM By Stu Sjouwerman

Two B.C. law firms were targets of so-called social engineering frauds causing almost $2 million in real estate and investment funds to be wired to people other than clients the firms ...

Pleading Guilty to Business Email Compromise

Aug 7, 2019 9:47:49 AM By Stu Sjouwerman

Amil Hassan Raage has taken a guilty plea to charges of fraud in a business email compromise (aka CEO fraud) case that netted him and his criminal co-conspirators almost three-quarters of ...

Freight Forwarding Email Scams are Business Killers

Aug 1, 2019 7:13:06 AM By Stu Sjouwerman

The Australian Cyber Security Centre (ACSC) has warned that multiple Australian IT suppliers have permanently closed their doors after falling victim to procurement scams, CRN reports. ...

CEO Fraud Phishing Scams Versus The U.K. Solicitors

Jul 31, 2019 10:56:48 AM By Stu Sjouwerman

The UK’s Solicitors Regulation Authority (SRA) has warned of another email scam that impersonated a real law firm in order to hijack a real estate transaction, according to Martin Parrin ...

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View Topics

Big Bad BEC

Business Email Compromise Topples Over $26 Billion in Losses

It's Happening The World Over: $300K Lost To Phone Scammer

IT Budgets Are on the Rise in Part Due to Organizational Concerns for Security

Your CEO's Email May Be Hacked And You Don't Even Know It

Here Is A New Term For Your Cybercrime Glossary: Vendor Email Compromise (VEC)

"Staggering" Increase in Business Email Compromise--aka CEO Fraud

Fake News and Deepfakes: Harmless Fun or the Future of Fraud?

CEO Fraud Attacks Now Use Deepfake Audio and AI to Mimic Executives Over the Phone

How Can You Check If Your Email Is Compromised?

FBI Cyber Warning: Attacks On Key Employees Up 100%, As 281 Are Arrested

The FBI Updates Their Numbers And BEC Is Now A 26 Billion Dollar Scam

CEO Fraud Overtakes Ransomware And Data Breaches In EMEA Cyber-insurance Claims

Gift Cards Are Now the #1 Business Email Compromise Cash-Out Mechanism for Fraudsters

Blank Emails Come Before BEC Fraud Attack

Business Email Compromise Doubles in Incidents and Triples in Cost

CEO Fraud hits B.C. lawyers for $2 million

Pleading Guilty to Business Email Compromise

Freight Forwarding Email Scams are Business Killers

CEO Fraud Phishing Scams Versus The U.K. Solicitors

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