64 times worse than ransomware? FBI statistics underline the horrific cost of business email compromise
The FBI is reminding organisations of the serious threat posed by business email compromise (BEC) scams, declaring that it caused over $1.8 billion worth of losses to businesses last year. The newly-published annual cybercrime report from the FBI’s Internet Crime Complaint Center (IC3) reveals that it had received a record number of complaints and claims of financial loss – with internet crime causing more than $4 billion in losses.