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Enterprise electronic mail compromise (BEC) has as soon as once more confirmed to be a expensive problem, with an organization dropping $60 million in a wire switch fraud scheme
16 Aug 2024
A Luxembourg-based chemical substances and manufacturing firm has recently suffered one of many largest-ever enterprise electronic mail compromise (BEC) assaults.
In response to a filing to the U.S. Securities and Exchanges Fee (SEC), an worker was tricked into making a number of wire transfers to cybercriminals, dropping the corporate $60 million.
BEC scams usually work as social engineering schemes, through which criminals often impersonate high-level executives, asking workers with entry to the group’s funds to switch cash for a business-related function.
As per the FBI’s Internet Crime Report 2023, BEC is seen because the second most damaging sort of cybercrime, amounting to a collective $2.9 billion in losses.
Watch as Tony discusses the implications of such schemes in our latest video.
