August 08, 2019 — About 35,000 executives from some of the world’s biggest banks and mortgage companies never imagined themselves as being on a cyber hit list, until they were. Cybercriminals with hopes of tricking executives into money transfers embarked on a very professional business e-mail compromise (BEC) scam discovered by security researchers at Agari. If normal phishers are hoping to hook an ordinary fish with their scams, business e-mail compromise scammers are looking for whales with access to significant money says Robert Capps, Vice President at NuData Security.
“Awareness training and educational measures are the first line of defence against such targeted scams. Employees should be closely reviewing all e-mails, especially those that are slightly unusual, to look for tell-tale signs of a scam.”