FBI Says Half of $3.5 Billion Cyber Losses in 2019 Were Due to Business Email Scams: Cybersecurity Trends
The FBI’s Internet Crime Complaint Center (IC3) reported that it received over 460,000 internet and cyber-crime complaints in 2019, which the agency estimates caused losses of more than $3.5 billion, the bureau wrote in its yearly internet crime report released earlier this month. And, about half of that is due to BEC (Business Email Compromise), aka EAC (Email Account Compromise) crimes, which are sophisticated scams targeting businesses and individuals performing wire transfer payments.
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