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$43 Billion Stolen Through Business Email Compromise Since 2016, Reports FBI
Security Boulevard, May 5th, 2022
May 5, 2022,
Volume 290, Issue 1

Over US $43 billion has been lost through Business Email Compromise attacks since 2016, according to data released this week by the FBI.

The FBI's Internet Crime Complaint Center (IC3) issued a public service announcement on May 4 2022, sharing updated statistics on Business Email Compromise (BEC) attacks which use a variety of social engineering and phishing techniques to break into accounts and trick companies into transferring large amounts of money into the hands of criminals.

The report looked at 241,206 incidents reported to law enforcement and banking institutions between June 2016 and December 2021, and says that the combined domestic and international losses incurred amounted to US $43.31 billion.

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    Other articles in the IT - Email section of Volume 290, Issue 1:
    • $43 Billion Stolen Through Business Email Compromise Since 2016, Reports FBI (this article)

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