A study of more than 9,000 instances of business email compromise (BEC) attacks all over the world shows that the number has skyrocketed over the past year, and that the social-engineering scam has expanded well beyond its historic roots in Nigeria. The report from Agari’s Cyber Intelligence Division (ACID), entitled The Global Reach of Business Email Compromise, found that these attacks cost businesses a staggering $26 billion every year.

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