FBI Sends Out Warning Over Email Scam Costing Billions

As the email looks like a genuine message, it is generally acted upon immediately.

By Steve Evans

The FBI is warning businesses to be on guard for an email scam that it says has cost companies billions of dollars over the last two and a half years.

The scam is known as a Business Email Compromise (BEC), and occurs when a corporate email account is hacked and an email is sent from that compromised account ordering a large wire transfer.

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Source: http://www.infosecurity-magazine.com/