Business Email Compromise

A BEC campaign successfully steals US$1 million seed funding meant for an Israeli startup from a Chinese venture capital firm.

The CEO of the Invictus Group of Companies, Obinwanne Okeke, has reportedly been arrested by the FBI after he was accused of conspiracy to commit computer and wire fraud.

This week, Cabarrus County, North Carolina, announced that it lost US$1.7 million to a BEC scam after a series of email exchanges that began in November 2018.

The total amount cybercriminals attempted to steal via business email compromise (BEC) scams rose to an alarming average of US$301 million per month — a substantial increase from the US$110 million monthly average that was tracked in 2016.

The government of the City of Griffin, Georgia, lost over US$800,000 to a business email compromise (BEC) scam last month.

BEC threat actors are expanding from their traditional enterprise victims toward nonprofit and religious organizations, with a recent incident involving a church.

A new business email compromise (BEC) scheme, where attacker tricks the recipients into rerouting paychecks by direct deposit, has emerged.

The threat actor London Blue has been refining its BEC techniques and expanding its scope for both targets and regions.

A business email compromise (BEC) scheme took more than $100 million from Facebook and Google. Legitimate-looking invoices, contracts and more fooled the two tech companies and they wired millions to the fraudsters over a period of years.