BEC Scams Nearly Double Over Three Years
Business E-mail Compromise (BEC) fraud has been gaining ground and growing in terms of number of incidences, according to a recent report.
As noted by the Financial Crime Enforcement Network (FinCEN), the number of reports of BEC rose to a monthly average of more than 1,100 in 2018, where the tally had been 500 in 2016. The data was reported in the July 2019 Financial Trend Analysis report.
That translates to a value of attempted BEC threats that jumped from $110 million monthly in 2016 to $301 million monthly in 2018.
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