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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.

New Sophisticated “Exaggerated Lion” BEC Check Scam Uses Mules to Cash Out

You may wonder exactly how BEC scammers see a payday. New insight from security vendor Agari documents how a secondary check scam dupes unsuspecting victims to help.
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Spear Phishing Tops the Canadian Anti-Fraud Center’s List of Attacks

The latest data out of the Canadian Government points out how targeted spear phishing fraud attacks via email are the most lucrative method of attack for cybercriminals in 2019.
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A Single BEC Gang is Launching Thousands of Attacks Per Year

A unique cybercriminal group launched business email compromise (BEC) attacks against more than 2,100 companies in the US between April and August 2019, according to researchers at Agari. ...
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Cyberattacks in 2019 Cost over $3.5 Billion in Victim Losses with Business Email Compromise Taking in Half

The FBI’s annual year-in-review breaks down how 467,000 cyber attacks succeeded in taking consumers and businesses alike for billions of dollars.
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FBI Internet Crime Report Released: The Evolving Threat and Importance of Reporting

The FBI's Internet Crime Complaint Center released its 2019 Internet Crime Report, and by no surprise the bad guys and new scams show no signs of stopping anytime soon. Last year the ...
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5 Tips to Prevent CEO Fraud

Every day, employees are regularly receiving spoofed emails. Even C-level executives are receiving fraudulent requests to transfer money or provide sensitive information. This form of ...
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Domain-Impersonation Increases by 400% as part of Conversational Hijacking Attacks

The latest data from security vendor Barracuda suggests that attackers heavily rely on lookalike domains as part of BEC scams that can result in CEO fraud, malware infection, or ransom.
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Hackers Request Aging Reports to Identify Their Next CEO Fraud Victims for Them

Rather than attempt to hack user credentials and gain access to Accounts Payable applications, hackers are now impersonating the CFO and obtaining all the detail they need to launch a ...
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Fast Work By Cops Recovers $710,000 After CEO Fraud Attack Hits Long Island County Government

Finally some good news. Newsday reports that in record time, Nassau County, New York, recovered $710,000 that was transferred to scammers who were impersonating an existing county vendor.
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Texas School District Loses $2.3 Million In BEC Scam

Texas’s Manor Independent School District was the victim of a costly 2.3 million dollar Business Email Compromise (BEC) scam in November of 2019.
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Business Email Compromise Attack Uses a “Man-in-the-Middle” Email Attack to Steal $1M

Dubbed the “ultimate” Man-in-the-Middle attack by security researchers at Checkpoint, this CEO fraud attack shows how brazen cybercriminals can be – and how organizations need to be ...
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Business Email Compromise During Tax Season: Spotting and Defending Against Common BEC Tax Scams

Tax season is upon us, which makes this prime time for hackers to target your unsuspecting users with the latest Business Email Compromise (BEC) scams. From evolved W2 fraud to ...
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Financial Advisor Fined After Falling for BEC Scam

The Financial Industry Regulatory Authority (FINRA) fined and temporarily suspended a financial advisor working for UBS after he was tricked into transferring $511,870 from a client’s ...
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Big Bad BEC

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 ...
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Business Email Compromise Topples Over $26 Billion in Losses

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

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

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

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

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

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 ...
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