The FBI is warning all businesses that work with foreign companies or regularly send and receive wire payments to beware of the latest scam they call the “Business E-mail Compromise.” According to Jim James, David Navetta and Kris Kleiner of Norton Rose Fulbright, regular e-mail accounts are being taken over by the scammers via computer intrusions, at which point they demand a transfer of funds.
“These attacks have been highly successful for the attackers, resulting in losses of approximately $750 million from over 7,000 U.S. businesses,” note the authors. They say the attacks are sophisticated, with great attention to detail and knowledge about the company’s internal operations. Here are some of their tips for avoiding the scam:
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