A public service announcement has been released as an update on the Business E-mail Compromise 12 Billion Dollar Scam that has targeted both businesses and individuals using wire transfer payments. This announcement includes new Internet Crime Complaint information along with updated statistics from between October 2013 and May 2018.
Using social engineering and computer intrusion methods, cybercriminals are able to gain access to unauthorised funds. The scam also attacks email accounts by requesting personal information, wage and tax information.
The Business Email Compromise scam continues to evolve and has targeted small, medium and large businesses as well as personal transactions. It has been reported in all 50 US states and in 150 countries.
Read more here.