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 10/30/2020
'Act of War' Clause Could Nix Cyber Insurance Payouts
Robert Lemos, Contributing Writer,  10/29/2020
6 Ways Passwords Fail Basic Security Tests
Curtis Franklin Jr., Senior Editor at Dark Reading,  10/28/2020
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
How to Measure and Reduce Cybersecurity Risk in Your Organization
In this Tech Digest, we examine the difficult practice of measuring cyber-risk that has long been an elusive target for enterprises. Download it today!
Flash Poll
How IT Security Organizations are Attacking the Cybersecurity Problem
How IT Security Organizations are Attacking the Cybersecurity Problem
The COVID-19 pandemic turned the world -- and enterprise computing -- on end. Here's a look at how cybersecurity teams are retrenching their defense strategies, rebuilding their teams, and selecting new technologies to stop the oncoming rise of online attacks.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-27652
PUBLISHED: 2020-10-29
Algorithm downgrade vulnerability in QuickConnect in Synology DiskStation Manager (DSM) before 6.2.3-25426-2 allows man-in-the-middle attackers to spoof servers and obtain sensitive information via unspecified vectors.
CVE-2020-27653
PUBLISHED: 2020-10-29
Algorithm downgrade vulnerability in QuickConnect in Synology Router Manager (SRM) before 1.2.4-8081 allows man-in-the-middle attackers to spoof servers and obtain sensitive information via unspecified vectors.
CVE-2020-27654
PUBLISHED: 2020-10-29
Improper access control vulnerability in lbd in Synology Router Manager (SRM) before 1.2.4-8081 allows remote attackers to execute arbitrary commands via port (1) 7786/tcp or (2) 7787/tcp.
CVE-2020-27655
PUBLISHED: 2020-10-29
Improper access control vulnerability in Synology Router Manager (SRM) before 1.2.4-8081 allows remote attackers to access restricted resources via inbound QuickConnect traffic.
CVE-2020-27656
PUBLISHED: 2020-10-29
Cleartext transmission of sensitive information vulnerability in DDNS in Synology DiskStation Manager (DSM) before 6.2.3-25426-2 allows man-in-the-middle attackers to eavesdrop authentication information of DNSExit via unspecified vectors.