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CEO Fraud Costs Millions – Phishing on the Rise
According to the FBI, BEC Fraud (Business Email Compromise), or CEO fraud, involves phishing a acks
aimed at someone in management.
A business is targeted by spoo ng
company emails. Speci c company
lingo is used to request wire-fund
transfers using dollar amounts that
lend legi macy. Targeted companies
are usually those dealing with foreign
suppliers, which makes it easier for them to be scammed. No ma er what size your company, you can fall vic m to this scheme.
From October 2013 to February 2016, there have been 17,642 vic ms amoun ng to over $2.3 billion in losses. Since 2015, the FBI has seen an increase of 270 percent in vic ms and exposed loss.