Victims duped out of US$1.8 million by Romance and BEC scam ring

Elderly men and women were the main targets of the Romance and Business Email Compromise (BEC) scams operated by the fraudsters. A United States Army Reservist has been sentenced to 46 months and ordered to and pay approximately US$1.8 million in restitution after he was found to be involved in a scheme to commit romance and business email … More Victims duped out of US$1.8 million by Romance and BEC scam ring

European firms’ financial departments the target of cyberattacks

Two major cyberattacks have siphoned over $50 million and nearly $80 million from the Belgian bank Crelan and the Austrian aircraft parts manufacturer FACC, respectively. Official statements released by both firms this month were light on detail but indicated that they had fallen victim to a scam known as Business Email Compromise (BEC). The common … More European firms’ financial departments the target of cyberattacks