Funds Transfer Fraud Has Increased 35% Since the Onset of COVID-19

With reported losses from thousands of dollars to well over $1 million, funds transfer fraud represents 27% of cyber insurance claims in 2020.

September 14, 2020 Stu Sjouwerman

Business Email Compromise attacks increase 67% Leading to Fraud, Ransomware, and Data Breaches

Involved in 60% of cybersecurity insurance claims, Business Email Compromise (BEC) is growing in interest by cybercriminals as the initial malicious action as part of a larger attack.

September 1, 2020 Stu Sjouwerman

CEO Fraud Wire Transfer Losses Soar 48% in Q2 2020

Business email compromise attacks—aka CEO Fraud— have taken shape this year, and according to Agari wire transfer losses have significantly increased by 48% in Q2 2020. The average losses ...

August 11, 2020 Stu Sjouwerman

Cybercriminals Target Execs in Microsoft 365 Credential Attack to Launch Internal BEC Scams

A new phishing attack spotted in the wild by security researchers at Trend Micro demonstrates how compromised data in an initial cyberattack is purposed in subsequent attacks.

August 11, 2020 Stu Sjouwerman

Legitimate Accounts for Illegitimate Business Email Compromise

Cybercriminals frequently use email accounts from legitimate services like Gmail to carry out business email compromise (BEC) attacks, Help Net Security reports. Researchers at Barracuda ...

July 24, 2020 Stu Sjouwerman

BEC is the Largest Cyber Threat to UK Sports Entities

The UK’s National Cyber Security Centre (NCSC) released a new report revealing that sports organizations are more than twice as likely to suffer a cyberattack than organizations in other ...

July 3, 2020 Stu Sjouwerman

Business Email Compromise Attacks Focused on Invoice Fraud Surge by 75%

As attacks on the C-Suite decline, new data shows that employees in finance department roles are critical to the success of shifts in attack campaign strategy.

June 16, 2020 Stu Sjouwerman

BEC Isn't Back; It Never Left

Business email compromise (BEC) attacks aren’t new, but they’re growing increasingly effective, according to Zeljka Zorz at Help Net Security. Zorz cites an article from BakerHostetler, ...

June 9, 2020 Stu Sjouwerman

Why BEC Punches Above Its Weight

Business email compromise (BEC) attacks are particularly insidious because they don’t use malware payloads or malicious URLs. That’s a reminder from Evan Reiser, CEO and co-founder of ...

May 28, 2020 Stu Sjouwerman

What to do About BEC?

Funds transfer fraud, also known as business email compromise (BEC), is a much more widespread problem than it seems, according to lawyers at Ice Miller LLP. The attorneys believe this ...

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