Tag: BEC
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Insurer Aims to “Clawback” BEC Losses After £1.4m Success
A leading insurer has launched a new service designed to recover funds stolen from British businesses by online fraudsters, such as those …
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SharePoint, OneDrive and Dropbox targeted by BEC attacks
Microsoft Threat Intelligence reported that it has observed threat actors abusing legitimate file hosting services such as SharePoint, …
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Losses due to cryptocurrency and BEC scams are soaring
2023 was a particularly devastating year for victims of cryptocurrency and business email compromise (BEC) scams, according to the FBI. …
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72% of BEC attacks were from free webmail domains
Phishing threats were analyzed in a recent report by APWG. According to the report, fraudsters are increasingly calling potential victims …
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Your business could be scammed by a BEC attack
What is a BEC attack? It has caused major financial losses for …
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Manufacturing Firm Loses $60m in BEC Scam
Manufacturing company Orion has revealed it has lost $60m in a business email compromise (BEC) scam. In a filing to the US Securities and …
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AI is responsible for 40% of business email compromise (BEC) emails
VIPRE Security Group has released its Q2 2024 Email Threat Trends Report. The report highlights the prevalent threat of business email …
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INTERPOL Recovers $41 Million in Largest Ever BEC Scam in Singapore
INTERPOL said it devised a “global stop-payment mechanism” that helped facilitate the largest-ever recovery of funds defrauded in a …
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Police Recover Over $40m Headed to BEC Scammers
A Singaporean commodity firm has had a narrow escape after police managed to intervene to recover nearly all of the $42.3m lost to …
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AI-generated emails make up 40% of BEC lures, security firm says
AI-generated emails now account for an estimated 40% of business email compromise (BEC) attempts, VIPRE Security Group said in its Email …
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BEC Attacks Surge 20% Annually Thanks to AI Tooling
Business email compromise (BEC) attacks have risen sharply over the past year thanks to the use of AI tools to generate scam messages, …
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Human error and BEC are a prominent sources of payment fraud
Trustmi has released its State of Business Payment Security in the United States report. The report surveys more than 500 finance …
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