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Slideshow

7 Truths About BEC Scams

Business email compromise attacks are growing in prevalence and creativity. Here's a look at how they work, the latest stats, and some recent horror stories.
How BEC Works
The Fraudulent Activity
Crooks Making a Mint
Significant BEC Increases in the Past Year
BEC Scammers Love Targeting CFOs and Financial Gatekeepers
From 419 to BEC Scams
No Target Is Sacred
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Last summer, the US Federal Bureau of Investigations (FBI) sounded a loud alarm for organizations about the growing danger of business email compromise (BEC) scams. At that time, the FBI said BEC fraud had cost organizations worldwide $12 billion in losses since 2013.

Since then, the threat has continued to grow more dire. Security industry researchers have shown BEC scams are increasing in scope and complexity as attackers perfect their attack playbooks to target an increasing number of victims around the globe.

Here, Dark Reading takes a look at how BEC scams work, the latest statistics on BEC prevalence, and some recent BEC horror stories that should help security professionals and users prepare themselves for this growing class of fraud.

 
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