Tag Archives: BEC scams

Business Email Compromises Bilking U.S. Companies Out of $301M Per Month

The United States Treasury Department came out with a report last week that concludes that business email compromises (BEC) are costing U.S. companies more than $301 million per month. The report confirms that the two industries hit the hardest by these scams are manufacturing and construction. The report, issued by the Treasury Department’s Financial Crimes … Continue Reading

FBI reports $3.1 billion lost by businesses through “business email compromise”

This article co-authored with guest blogger David Wang, a R+C summer associate and student at Boston College Law School Wire fraud crime has long been a problem for financial institutions and banks. However, wire fraud through email is a completely different beast. Originally characterized by law enforcement as an extension of traditional wire fraud, wire fraud by … Continue Reading
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