Aug 06, 2024Ravie LakshmananEmail Security / Financial Fraud INTERPOL said it devised a "global stop-payment mechanism" that helped facilitate the largest-ever recovery of funds defrauded in a business email compromise (BEC) scam. The development comes after an unnamed commodity firm based in Singapore fell victim to a BEC scam in mid-July 2024. It refers to a type of … [Read more...] about INTERPOL Recovers $41 Million in Largest Ever BEC Scam in Singapore
BEC
Lookalike attacks in phishing and BEC
You’ve received an email at work asking you to change your email password, confirm your vacation period, or make an urgent money transfer at the request of the CEO. Such unexpected requests could be the start of a cyberattack on your company, so you need to make sure it’s not a scam. So how do you check email addresses or links to websites? The centerpiece of a fake is usually … [Read more...] about Lookalike attacks in phishing and BEC
Interpol Arrest Leader of SilverTerrier Cybercrime Gang Behind BEC Attacks
A year-long international investigation has resulted in the arrest of the suspected head of the SilverTerrier cybercrime group by the Nigeria Police Force. "The suspect is alleged to have run a transnational cybercrime syndicate that launched mass phishing campaigns and business email compromise schemes targeting companies and individual victims," Interpol said in a … [Read more...] about Interpol Arrest Leader of SilverTerrier Cybercrime Gang Behind BEC Attacks
How to Fight Business Email Compromise (BEC) with Email Authentication?
An ever-evolving and rampant form of cybercrime that targets emails as the potential medium to conduct fraud is known as Business Email Compromise. Targeting commercial, government as well as non-profit organizations, BEC can lead to huge amounts of data loss, security breach, and compromised financial assets. It is a common misconception that cybercriminals usually lay their … [Read more...] about How to Fight Business Email Compromise (BEC) with Email Authentication?
Interpol Arrests 3 Nigerian BEC Scammers For Targeting Over 500,000 Entities
Three Nigerian citizens suspected of being members of an organized cybercrime group behind distributing malware, carrying out phishing campaigns, and extensive Business Email Compromise (BEC) scams have been arrested in the city of Lagos, Interpol reported yesterday. The investigation, dubbed "Operation Falcon," was jointly undertaken by the international police organization … [Read more...] about Interpol Arrests 3 Nigerian BEC Scammers For Targeting Over 500,000 Entities
Verizon Data Breach Report: Espionage, C-Suite and Cloud Attacks on the Rise
The administrator of your personal data will be Threatpost, Inc., 500 Unicorn Park, Woburn, MA 01801. Detailed information on the processing of personal data can be found in the privacy policy. In addition, you will find them in the message confirming the subscription to the newsletter. Source link … [Read more...] about Verizon Data Breach Report: Espionage, C-Suite and Cloud Attacks on the Rise
News Wrap: Cartoon Network Hack, the Catholic Church and Jason Statham Scams
The Threatpost team breaks down the strangest security stories this week - from Cartoon Network hacked to show stripper videos, to a church being scammed out of $1.75 million. Source link … [Read more...] about News Wrap: Cartoon Network Hack, the Catholic Church and Jason Statham Scams
BEC Hack Cons Catholic Church Out of $1.75 Million
An Ohio parish lost a whopping $1.75 million after attackers breached two employees' email accounts - and then tricked other employees into sending wire transfers to a fraudulent bank account. Source link … [Read more...] about BEC Hack Cons Catholic Church Out of $1.75 Million
FBI: BEC Scam Losses Almost Double To Reach $1.2 Billion
Overall, in 2018 the FBI received more than 351k reported scams with losses exceeding $2.7 billion. Source link … [Read more...] about FBI: BEC Scam Losses Almost Double To Reach $1.2 Billion