The BBC today published its latest article set against the massive and continued cyber-criminal activity targeting businesses across the globe.
Business Email Compromise (BEC), as referenced in the BBC article, remains amongst the largest areas of finacial loss attributable to cyber-criminlal activity around the world.
This type of fraud has taken a number of different forms and already carries several descriptive names and acronyms including BEC, EAC (email account compromise), CEO fraud or whaling.
All are largely based upon the same fundamental fact that normal email remains unsecure and open to abuse.
According to the FBI's latest Internet Crime Report (ICR), losses from BEC scams amounted to almost $1.3 billion in 2018. This is double the losses in 2017, which stood at $676 million.
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