How To Protect Against Business Email Compromise Scams

Law360, New York (January 12, 2016, 1:21 PM EST) -- Robert Pé

Winson S. Chu

Suzanne Siu Over the last two years, the FBI has reported close to 10,000 businesses victimized by a particular form of online fraud referred to as a business email compromise scam or BEC scam, which typically involves the fraudulent transfer of funds from the company to accounts in Hong Kong and mainland China. According to the FBI, more than 8,000 businesses fell victim to business email compromise scams and suffered a combined loss of more than $1.2 billion.[1] Since January 2015 there has been a 270 percent increase in the number of victims falling victim to...

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