from TrendLabs Security Intelligence Blog
The FBI has issued a warning on the dramatic increase of Business Email Compromise (BEC) scams, swindling over US$2.3 billion from companies worldwide, notably the US and Europe. The scams do not discriminate, with targets ranging from small businesses to large corporations. All the perpetrators need is the company executive’s email address (or someone close, like their personal assistant) and the ability to make a convincing fake email.
This kind of scam, where fraudsters identify themselves as high-level executives, is also known as “CEO Fraud”. It has been around for quite a while, targeting big companies mainly from US and Europe, with the rest in Australia and other regions:
Post from: Trendlabs Security Intelligence Blog - by Trend Micro
