New FBI data shows that business email compromise (BEC) and email account compromise (EAC) scam losses worldwide spiked 136% from December 2016 to May 2018.
There were 78,617 BEC/EAC incidents reported between October 2013 and May 2018, resulting in $12 billion in losses. Of those incidents, 41,058 were in the US, resulting in $2.9 billion in losses. China and Hong Kong banks led the locations for receipt of fraudulent funds, while the UK, Mexico, and Turkey are emerging regions, the FBI report shows.
Read more about the findings of the new FBI report on DarkReading.