The FBI is warning that businesses have handed some US$3.1 billion to email scammers, a whopping 1,300 percent increase in 18 months. Businesses are tricked into sending the cash to would-be chief executive officers who have sufficient company information, obtained through open source searching or hacking, that makes the requests for money appear legitimate. Some 14,032 victims in the US have hemorrhage US$961 million, thanks business email compromise scams. The agency counts only 1,636 victims abroad totalling losses of US$93 million.
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ORIGINAL SOURCE: The Register
