Business Email Compromise: Low-Tech, High-Impact Threat
Security Boulevard, November 7th, 2022
November 18, 2022,
Volume 296, Issue 3
One of the least technologically sophisticated cyberattacks, business email compromise (BEC), is also one of the most damaging.
According to the FBI's Internet Crime Complaint Center (IC3), there were 241,206 business email compromise incidents between 2016 and 2021, with combined global business losses of $43,312,749,946. In its 2021 internet crime report, the FBI cited BEC as the top internet crime in terms of victim loss for the seventh year in a row, totaling almost $2.4 billion in 2021. That was about a billion dollars more than the second-ranked crime.
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