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FBI Warns: Billions Lost to Business Email Scams – Protect Your Company Now!
The FBI has warned organizations about the rising threat of business email compromise (BEC), a cybercrime that has cost global firms nearly $55.5 billion over the past decade. By impersonating legitimate entities, scammers trick victims into making large money transfers. Stay vigilant and follow FBI…
Hot Take:
Just when you thought your inbox was full of spam, the FBI drops a bombshell: it’s actually full of scammers who have turned email compromise into a multi-billion dollar industry. Time to think twice before wiring that “urgent” payment to your “CEO”!
Key Points:
- The FBI warns of Business Email Compromise (BEC) scams netting tens of billions of dollars.
- BEC involves tricking individuals into transferring money by impersonating legitimate entities.
- Over 305,000 incidents reported between October 2013 and December 2023.
- BEC scams increased by 9% in just one year, from December 2022 to December 2023.
- FBI recommends using MFA, unique passwords, and verifying email senders to mitigate BEC risks.
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