Business-related inbox scams are reaching epidemic levels with the total cost to business reaching a whopping $3.1 billion. The dire warning comes from the FBI that says skyrocketing losses represent a 1,300 percent increase since January 2015. Identified by the FBI as business e-mail compromise (BEC) crimes, the scams attempt to trick email recipients into money wire transfers, forwarding sensitive employee data such as W-2 data, paying fake invoices, or hijacking employee email accounts in order to use stolen email identities to win the confidence of scam targets.
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ORIGINAL SOURCE: Threatpost