Email fraud warning: Now hackers want your data as well as your money

Fraudsters are launching phishing campaigns that come in the shape of emails pretending to be from someone within the same organisation as the victim — and the crooks are increasingly targeting data rather than money.

Email fraud, particularly business email compromise, hit the headlines when the FBI said this particular form of cybercriminal activity cost victims $1bn over the course of a yearNew research from security company Proofpoint suggests the number of email fraud attacks is on the rise. According to the report, three-quarters of organisations believe they’ve been targeted once, while two in five firms believe they’ve been the target of multiple attempted attacks.

While the attacks involve some care and effort by the attackers — they need to look like someone the victim can trust — they’re widening their reach, targeting larger numbers of people within organisations. “A change we’ve experienced in Q4 over previous quarters is the number of people within an organisation that are targeted with these attacks doubled,” Robert Holmes, vice president of Email Security Products for Proofpoint, told ZDNet.

Read more about the findings of the new research by Proofpoint on ZDNet.