Security Awareness Training Blog

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.

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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Cannabis Company Loses Millions in BEC Scam

Australian medicinal cannabis company Cann Group has lost $3.6 million in a business email compromise (BEC) attack, Stockhead reports. The company had thought it was paying an unnamed ...
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BEC Attacks Nearly Doubled in 2020

A new report from Barracuda Networks found that business email compromise (BEC) attacks have nearly doubled over the past year. These attacks made up 12% of all spear phishing attacks in ...
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Data Breaches Are Expected to Decline While Ransomware and BEC Gain Steam

A new report from the Identity Theft Research Center discusses which cybersecurity attacks will be most impactful next year as part of the ITRC’s 2021 predictions.
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BEC Scam Litigation Demonstrates How Your Company Can Be Out $500,000

The case of Arrow Truck Sales Inc. v. Top Quality Truck & Equipment tells a familiar tale, but provides insight into how the law interprets cases and who’s at fault.
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[HEADS UP] FBI Warns US Companies of BEC Scammers

The Federal Bureau Investigation is issuing warnings to US companies that are taking advantage of email auto-forwarding. If successful, this would fall right into the trap of a business ...
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[Heads-Up] A Hacker Is Selling Access To The Email Accounts Of Hundreds Of C-Level Executives

ZDNet's Zero Day column just reported one of the best reasons why you should step your users through new-school security awareness training yet:
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Will You Get Spoofed for the Holidays? Find out for a Chance to WIN!

Are you aware that one of the first things hackers try is to see if they can spoof the email address of someone in your own domain?
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BEC Incidents Intent on Invoice or Payment Fraud Increase 155% Across All Industries

Business Email Compromise appears to be back in the saddle again, as attackers use simple social engineering and domain impersonation to trick victims into paying up.
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Fraud Attacks Targeting the Mid-Market Organization Increase 129%

New data from U.K. cyberinsurer Beazley highlights the growing trend of mid-market organizations being the target of social engineering attacks and fraud.
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The Geography of Business Email Compromise

Researchers at Agari have released a report on the global distribution of business email compromise (BEC) actors, and determined that 25% of these criminals are operating from within the ...
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Threat Actors Take Advantage of Exchange Online and Outlook on the Web with New Levels of Sophistication

New insight from Accenture Security highlights specific ways attackers are changing their tactics to make Microsoft’s email platform a tool rather than an obstacle for phishing attacks.
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An Autopsy of a $15 Million Heist

A company in the US lost $15 million in a two-month-long business email compromise scam, BleepingComputer reports. Researchers at Mitiga who investigated the attack told BleepingComputer ...
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New Office 365 Phishing Attack Checks Your Stolen Credentials in Real-Time

Nothing says the bad guys are intent on stealing credentials like testing them while you participate in their phishing attack so they can verify the validity before letting you off the ...
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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.
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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.
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