Attacks/Breaches

5/5/2017
10:20 AM
50%
50%

FBI: Business- and Email Account Compromise Attack Losses Hit $5 Billion

The FBI's IC3 division reports a 2,370% spike in exposed losses resulting from BEC and EAC between January 2015 and December 2016.

The FBI's Internet Crime Complaint Center (IC3) reports business email compromise (BEC) and email account compromise (EAC) attacks caused $5.3 billion in exposed loss for global and domestic companies between October 2013 and December 2016. Victims, which come from 50 states and 131 countries, reported a total of 40,203 incidents in the same time period.

This report marks a significant uptick from the FBI's last report in June 2016, when it said threat actors had tried to steal $3.1 billion since October 2013. The IC3 reports a 2,370% increase in exposed losses related to BEC/EAC scams between January 2015 and December 2016.

The FBI began tracking BEC and EAC as a single crime type in 2017 as the techniques for each become increasingly similar. Not much is known about how victims are selected but most are studied with social engineering prior to attacks. Asian banks in China and Hong Kong are the primary recipients of fraudulent funds, though the UK is also a popular destination.

Read more details here.

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
JulietteRizkallah
50%
50%
JulietteRizkallah,
User Rank: Ninja
5/8/2017 | 3:48:48 PM
Real Spike or better visibility in breaches
Such an increase may indicates either a tremendous spike in attacks, a better visibility and therefore detection of data breaches, or both. Hard to say one or the other, but it has become critical for enterprises to gain visibility on who has access to what data.
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
The Year in Security 2018
This Dark Reading Tech Digest explores the biggest news stories of 2018 that shaped the cybersecurity landscape.
Flash Poll
How Enterprises Are Attacking the Cybersecurity Problem
How Enterprises Are Attacking the Cybersecurity Problem
Data breach fears and the need to comply with regulations such as GDPR are two major drivers increased spending on security products and technologies. But other factors are contributing to the trend as well. Find out more about how enterprises are attacking the cybersecurity problem by reading our report today.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-6487
PUBLISHED: 2019-01-18
TP-Link WDR Series devices through firmware v3 (such as TL-WDR5620 V3.0) are affected by command injection (after login) leading to remote code execution, because shell metacharacters can be included in the weather get_weather_observe citycode field.
CVE-2018-20735
PUBLISHED: 2019-01-17
** DISPUTED ** An issue was discovered in BMC PATROL Agent through 11.3.01. It was found that the PatrolCli application can allow for lateral movement and escalation of privilege inside a Windows Active Directory environment. It was found that by default the PatrolCli / PATROL Agent application only...
CVE-2019-0624
PUBLISHED: 2019-01-17
A spoofing vulnerability exists when a Skype for Business 2015 server does not properly sanitize a specially crafted request, aka "Skype for Business 2015 Spoofing Vulnerability." This affects Skype.
CVE-2019-0646
PUBLISHED: 2019-01-17
A Cross-site Scripting (XSS) vulnerability exists when Team Foundation Server does not properly sanitize user provided input, aka "Team Foundation Server Cross-site Scripting Vulnerability." This affects Team.
CVE-2019-0647
PUBLISHED: 2019-01-17
An information disclosure vulnerability exists when Team Foundation Server does not properly handle variables marked as secret, aka "Team Foundation Server Information Disclosure Vulnerability." This affects Team.