Eighty suspects, most of them Nigerian nationals, have been indicted on charges of running global business email compromise and romance scams that led to millions of dollars in fraud and allegedly involved a complex money-laundering operation.
The FBI has arrested a Nigerian businessman for allegedly carrying out an $11 million business email compromise scheme that targeted a U.K. affiliate of U.S. heavy equipment manufacturer Caterpillar.
A newly identified phishing campaign used Google Drive to help bypass some email security features as attackers attempted to target a company in the energy industry, security firm Cofense reported this week.
Business email compromise scams are surging, and they're costing U.S. companies a total of more than $300 million a month, according to a recently released analysis by the U.S. Treasury Department. The report pinpoints which sectors are hardest hit by this type of fraud.
A growing area of concern for security researchers is a new crop of business email compromise schemes originating from Nigeria, with scammers upping their game by using new malware. The biggest of the crime gangs is SilverTerrier, according to Palo Alto Network's Unit 42.
Fraud, e-hustles and social engineering attacks continues to proliferate, the FBI's latest report into the state of internet crime confirms. But over the past year, a new FBI tactic for quickly stopping fraudulent wire transfers has notched notable successes.
Among the top new spear phishing threats to enterprises: Extortion. Asaf Cidon of Barracuda outlines the top three spear phishing threats and new strategies to defend against them.
A 31-year-old Maryland man will serve time in prison for his leadership role in a business email compromise scheme that netted him and five others $4.2 million from 13 victims over a two-year period.
West African fraudsters have moved beyond Nigerian prince scams and embraced business email compromises and other types of attacks, says Crane Hassold of Agari.
Beazley Breach Response Services, a unit of global insurance company Beazley, reports that nearly half of the more than 3,300 breaches it investigated last year traced to a hack attack or malware infection. And half of those hacking/malware attacks were tied to business email compromise schemes.
This Valentine's Day, authorities are once again warning individuals to watch out for anyone perpetrating romance scams. The FTC says Americans lost $143 million to romance scams in 2017, while in the U.K., Action Fraud says reported romance scam losses in 2018 topped $64 million.
With an operating system that's used by 90 percent of Fortune 500 companies, Microsoft closely monitors cyberattack trends. Joram Borenstein, general manager of Microsoft's Cybersecurity Solutions Group, discusses his top three concerns for 2019.
In the wake of Equifax and other major breaches, sophisticated fraudsters are finding success as never before. Al Pascual of Javelin Strategy and Research discusses how identity impersonation is manifesting.
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