The FBI has released a warning regarding business email compromise attacks, stating that banks located in Thailand and Hong Kong are used in the majority of attacks. BEC attacks have become increasingly popular over the past few years, growing to impact large enterprises, SMBs, and even personal transactions. According to the FBI, BEC attacks are responsible for over $43 billion in stolen funds over the past six years. This figure was obtained from crime reports gathered by the FBI, law enforcement data, and filings with financial institutions.
Between July 2019 and December 2021, the FBI states that there was a 65% increase in identified global exposed losses. This might be due to the restrictions on normal business practices enacted during the pandemic and lessened security due to the work-from-home movement. The FBI’s statistics are derived from US and global data, and scams have been reported in all 50 states and 177 countries across the world. The FBI states that although banks in 140 countries have received stolen funds from BEC attacks, banks in Thailand and Hong Kong were the most common destinations in 2021. Knowing where the funds go can help the FBI recover the finances and return them to victims.
Read More: FBI Reports Thailand and Hong Kong Banks Used Most in BEC
