Fraudsters are increasingly exploiting the auto-forwarding feature in compromised email accounts to help conduct business email compromise scams, the FBI warns.
Interpol, Nigerian law enforcement agencies and security firm Group-IB have collectively uncovered a massive Nigerian business email compromise gang that was active across more than 150 countries. Three suspected members have been arrested in Nigeria.
COVID-19 accelerated everything else digital; why not fraud, too? In this latest CEO/CISO panel, cybersecurity leaders talk frankly about the pace and scale of new fraud schemes from business email compromise to card not present to insider risk.
Attackers have been actively exploiting a flaw in Rackspace's hosted email service to send phishing emails, bearing legitimate and validated domain names, as part of business email compromise scams, warns IT security testing consultancy 7 Elements. Rackspace tells customers it plans to fix the problem soon.
The U.K. NCSC responded to over 700 cyber incidents over a 12-month period, 200 of which were related to the COVID-19 pandemic, according to the cyber agency's annual report. NCSC also notes that's it's preparing to step-up its response to cyber incidents involving the NHS and vaccine development.
The Republican Party of Wisconsin says fraudsters used phishing emails and doctored invoices to steal $2.3 million earmarked for President Donald Trump's reelection campaign. The FBI is investigating.
Business email compromise scams continue to proliferate around the globe, with the U.S. now second only to Nigeria as a home base for the cybercriminal organizations waging the campaigns, according to a study by the security firm Agari.
Ransomware attacks remain the top cyber-enabled threat seen by law enforcement. But phishing, business email compromises and other types of fraud - many now using a COVID-19 theme - also loom large, Europol warns in its latest Internet Organized Crime Threat Assessment.
A recently uncovered business email compromise scam that's targeting executives' Microsoft Office 365 accounts has hit over 150 organizations worldwide so far and netted the scammers about $15 million, according to incident response firm Mitiga.
Two recent hacking incidents that each affected more than 100,000 individuals illustrate the variety of cyberthreats healthcare organizations face during these chaotic times. Security experts offer risk mitigation insights.
A data breach affecting the South African branch of credit reporting company Experian exposed information on 24 million consumers and almost 800,000 businesses, according to the South African Banking Risk Information Center. But Experian says no consumer credit or financial information was exposed.
To help mitigate the risks posed by business email compromise scams that target privileged users, enterprises need to create a detailed enterprise risk management plan that spells out procedures to secure accounts, says Espen Otterstad, CISO at Norwegian telematics company ABAX AS.
The operators behind the AgentTesla remote access Trojan have upgraded the infostealer with additional capabilities, including the ability to steal credentials from VPNs, web browsers, FTP files and email clients, Sentinel Labs reports. The low-cost malware is used in BEC scams and other campaigns.
High-speed trading firm Virtu Financial says it lost $6.9 million in a business email compromise scam in May. The company is now suing its insurer for failure to cover the loss.
A recently uncovered BEC scam has targeted the Office 365 accounts of executives at over 1,000 companies worldwide, collecting more than 800 sets of credentials in an attempt to commit payment fraud, according to Trend Micro.
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