Security News > 2022 > May > FBI: $43 billion in losses are due to Business Email Compromise fraud between 2016 and 2021
FBI: $43 billion in losses are due to Business Email Compromise fraud between 2016 and 2021.
The Federal Bureau of Investigation released an alert that said there has been a 65% increase in identified global exposed losses from Business Email Compromise fraud, also known as Email Account Compromise.
Business Email Compromise is a sophisticated scam that targets companies and individuals who perform legitimate transfer-of-funds requests.
The scam is not yet always associated with a money transfer, as one variation of the fraud involves compromising legitimate business email accounts and requesting employees personally identifiable information, Wage and Tax Statement forms or even cryptocurrency wallets, according to the agency.
Carefully check the links included in the email and check for all email properties.
Also See Share: FBI: $43 billion in losses are due to Business Email Compromise fraud between 2016 and 2021.