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FBI Warns Against Business E-mail Fraud By Susannah M. Eichele

Business Email Compromise (“BEC”) is a new type of fraud scheme that has become increasingly common, targeting businesses that regularly make wire transfers. BEC scammers contact employees responsible for wiring money by posing as executives or vendors and instruct the employees, under false pretenses, to wire large sums to fraudulent accounts. BEC scams have been increasingly successful, resulting in organizations being defrauded of significant sums. The Federal Bureau of Investigation estimates that more than 7,000 U.S. companies have been victimized, resulting in losses totaling nearly $740 million since October 2013.

December 16, 2015


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