01 Sep 2020

BEC Wire Transfer Losses Soar 48% in Q2 2020

According to security vendor Agari, Business Email Compromise attacks that lead to wire transfer losses have increased dramatically from the previous quarter. BEC wire transfer losses soared by over 48% from Q1 2020, resulting in an average of more than $80,000. These conclusions were highlighted in the Anti-Phishing Working Group’s

Read More
02 Mar 2020

Microsoft Engineer Pleads Guilty to $10m Fraud Scheme

A former Microsoft engineer, Ukrainian citizen Volodymyr Kvashuk from Washington state is facing 20 years behind bars after being found guilty of attempting to defraud Microsoft of $10 million. Kvashuk was initially a contractor for Microsoft before being hired as a full-time employee in August 2016. Kvashuk was convicted on

Read More
09 Dec 2019

Feds Crack Down on Money Mules, Warn of BEC Scams

The Justice Department stated earlier this week that it is cracking down on money mules, or middlemen who provide assistance in fraud schemes, claiming that it has stopped over 600 money mules this year. Money mules refer to people who receive money from victims and forward the proceeds to foreign

Read More