Business email scams have led to $2.3 billion losses via rogue wire transfers

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Image Source: Article

Over the past two and a half years, cybercriminals have managed to steal over $2.3 billion from thousands of companies worldwide by using little more than carefully crafted scam emails.

Known as business email compromise (BEC), CEO fraud or whaling, this type of attack involves criminals impersonating an organization's chief executive officer, or some other high-ranking manager, and instructing employees via email to initiate rogue wire transfers.

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