Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

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
 

Recommended Reading:

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.
COVID-19: Latest Security News & Commentary
Dark Reading Staff 8/3/2020
Pen Testers Who Got Arrested Doing Their Jobs Tell All
Kelly Jackson Higgins, Executive Editor at Dark Reading,  8/5/2020
New 'Nanodegree' Program Provides Hands-On Cybersecurity Training
Nicole Ferraro, Contributing Writer,  8/3/2020
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
Special Report: Computing's New Normal, a Dark Reading Perspective
This special report examines how IT security organizations have adapted to the "new normal" of computing and what the long-term effects will be. Read it and get a unique set of perspectives on issues ranging from new threats & vulnerabilities as a result of remote working to how enterprise security strategy will be affected long term.
Flash Poll
The Changing Face of Threat Intelligence
The Changing Face of Threat Intelligence
This special report takes a look at how enterprises are using threat intelligence, as well as emerging best practices for integrating threat intel into security operations and incident response. Download it today!
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-15058
PUBLISHED: 2020-08-07
Lindy 42633 4-Port USB 2.0 Gigabit Network Server 2.078.000 devices allow an attacker on the same network to elevate privileges because the administrative password can be discovered by sniffing unencrypted UDP traffic.
CVE-2020-15059
PUBLISHED: 2020-08-07
Lindy 42633 4-Port USB 2.0 Gigabit Network Server 2.078.000 devices allow an attacker on the same network to bypass authentication via a web-administration request that lacks a password parameter.
CVE-2020-15060
PUBLISHED: 2020-08-07
Lindy 42633 4-Port USB 2.0 Gigabit Network Server 2.078.000 devices allow an attacker on the same network to conduct persistent XSS attacks by leveraging administrative privileges to set a crafted server name.
CVE-2020-15061
PUBLISHED: 2020-08-07
Lindy 42633 4-Port USB 2.0 Gigabit Network Server 2.078.000 devices allow an attacker on the same network to denial-of-service the device via long input values.
CVE-2020-15062
PUBLISHED: 2020-08-07
DIGITUS DA-70254 4-Port Gigabit Network Hub 2.073.000.E0008 devices allow an attacker on the same network to elevate privileges because the administrative password can be discovered by sniffing unencrypted UDP traffic.