BUSINESS EMAIL COMPROMISE THREAT GROWS, WHILE PHONE-BASED CLONE VOICE SCAMS EMERGE
March 11th, 2023
Business email compromise (BEC) fraud is growing so fast worldwide, it is regarded by the USA’s Federal Bureau of Investigation (FBI) to be “a major threat to the global economy”. In a report written for the US congress last November (2022), the FBI said in the USA during 2021, the Internet Crime Complaint Center (IC3) received BEC-related complaints with claimed losses exceeding USD2.4 billion, and USD43 billion between July 2016 and December 2021 (1).
BEC criminals keep developing new fraudulent messages and strategies, conning businesses into making ...
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