How a BEC scam cost a company $60 Million – Week in security with Tony Anscombe
Video Business email compromise (BEC) has once again proven to be a costly issue, with a company losing $60 million in a wire transfer fraud scheme 16 Aug 2024 A Luxembourg-based chemicals and manufacturing company has recently suffered one of the largest-ever business email compromise (BEC) attacks. According to a filing to the U.S. Securities and Exchanges Commission (SEC), an employee was tricked into making multiple wire transfers to cybercriminals, losing the company $60 million. …
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