FBI Updates Business Email Compromise PSA

The FBI on Tuesday released an updated public service announcement to provide new information and statistical data related to business email compromise scams. The updated PSA details a new data theft scenario employed by fraudsters that targets departments responsible for maintaining tax and personally identifiable information, such as human resources, bookkeeping or audit.

Since January 2015, business email compromise scams — in which criminals hack into corporate email accounts through social engineering or computer intrusion techniques and conduct unauthorized funds transfers — have increased 1,300 percent, with victims in all 50 states and 100 countries. Criminals target businesses of all sizes, specifically those that work with foreign suppliers or that regulatory perform wire transfer payments.

The PSA provides an overview of the complaints submitted to the FBI’s Internet Crime Complaint Center, provides tips for mitigating the risk of BEC and outlines steps businesses can take if they fall victim to this type of scam.