Fight back against this major cyber threat.
Business Email Compromise is one of the greatest cyber threats to businesses of all sizes and industries, particularly those involved in regular wire transfers of funds. According to the Federal Bureau of Investigation, between June 2016 and December 2021, BEC scams were reported in all 50 states and 177 countries, with more than 140 countries receiving fraudulent transfers. These statistics are based on information reported to the FBI by victims, law enforcement, and the banking community. Actual and attempted dollar losses associated with these reports exceed $43 billion. Because these numbers are based only on compromises that have been reported, the true cost of BEC scams is in all likelihood much greater.
The Constangy Cyber Advisor posts regular updates on legislative developments, data privacy, and information security trends. Our blog posts are informed through the Constangy Cyber Team's experience managing thousands of data breaches, providing robust compliance advisory services, and consultation on complex data privacy and security litigation.
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Contributors
- Suzie Allen
- John Babione
- Bert Bender
- Jason Cherry
- Christopher R. Deubert
- Maria Efaplomatidis
- Sebastian Fischer
- Laura Funk
- Lauren Godfrey
- Taren N. Greenidge
- Chasity Henry
- Julie Hess
- Sean Hoar
- Donna Maddux
- David McMillan
- Ashley L. Orler
- Todd Rowe
- Melissa J. Sachs
- Allen Sattler
- Matthew Toldero
- Alyssa Watzman
- Aubrey Weaver
- Xuan Zhou