threatpost[.]com/business-email-compromise-losses-up-2370-percent-since-2015/125469/
Business Email Compromise (BEC) schemes, where executives are scammed via social engineering and phishing compromises that ultimately lead to fraudulent wire transfers, grew at a jaw-dropping rate of 2,370 percent in the last two years.The FBI yesterday published its latest statistics on these unrelenting crimes, which have been reported in all 50 states in the U.S. and in 131 countries.
Most of the stolen money, the FBI said, has been funneled to banks in China and Hong Kong, and since late 2013, businesses have suffered more than $5.3 billion in losses.