The FBI is alerting email users regarding a potentially harmful fraud. Victims may get into major legal difficulties with their employers or experience bank account theft.
This fraud, known as the “Business Email Compromise,” allows thieves to steal hundreds of thousands of dollars in a matter of minutes.
An official FBI security brief explains how it works and what you can do to protect yourself.
The scam can take many forms, such as an invoice from a company you routinely do business with, a CEO asking an employee to buy dozens of gift cards, or a message instructing a home buyer on how to wire their down payment.
“Business email compromise (BEC) – also known as email account compromise (EAC) – is one of the most financially damaging online crimes,” the FBI stated.”It exploits the fact that so many of us rely on email to conduct business—both personal and professional.”