The Business Email Compromise (BEC) Handbook
The 2020 Internet Crime Report from the FBI’s Internet Crime Complaint Center (IC3) says that last year’s “internet crime spree” included about $1.8 billion in losses for the victims of email fraud schemes.
In Arizona, a businessman sends an email to his colleague to let her know the company will be doing business with a new vendor, RS Enterprise. The businessman is too busy travelling and can’t set up the $157,000 payment that’s been promised to the vendor. So, helpfully, he provides all the details his colleague needs to send the money.
More than 350 people in Arizona received emails with similar instructions—messages that appeared to come from a vendor or another familiar business associate.
And the senders? They were cyber criminals who collected more than $30 million, according to the Federal Bureau of Investigation (FBI).
Download the whitepaper to discover the six-step plan for stopping payment redirection, supplier invoicing fraud and gift card scams.