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Fight back against this major cyber threat. Business Email Compromise is one of the greatest cyber threats to businesses of all sizes and industries, particularly those involved in regular wire transfers of funds....more
We’ve all heard the sad story: A transaction is about to close. The buyer is preparing to wire funds to the seller. Unbeknownst to the buyer, a hacker has hijacked the parties’ email communications to replace the wiring...more
Report on Patient Privacy 21, no. 4 (April 2021) - A Texas Medicaid subcontractor has been terminated after a data breach caused by a ransomware attack originating from Russia exposed the personal information of tens of...more
State and local governments have been hammered with business email compromise (BEC) attacks over the past few years and the onslaught does not appear to be abating....more
U.S. hospitals, already on the front lines of fighting the coronavirus pandemic, are now facing viral attacks by cybercriminals. More than 20 U.S. hospitals and health care organizations have reported their data being held...more
In 2019, the Federal Bureau of Investigation (“FBI”) estimated that business email compromises, often carried out via email scams that trick businesses into making wire payments, have caused an estimated $1.7 billion in...more
The Security Summit, consisting of the Internal Revenue Service (“IRS”), state tax agencies, and private-sector tax industry officials, is encouraging tax professionals during the 2019 summer season to take some time to...more
Did you know Americans lost nearly $150 million dollars to real estate internet scams last year? That makes real estate cyber crime a greater risk to Americans than identity theft ($100 million in losses) or credit card fraud...more
According to the Association for Financial Professionals’ Payment and Fraud Controls report, 2017 was a record year for payment fraud. The tactics employed by scammers and other malicious outsiders continue to grow more...more
Business email compromise (“BEC”) is a type of cyberattack that is increasing at an alarming pace. The U.S. Federal Bureau of Investigation estimated in a May 2017 alert that global losses due to BEC scams totaled more than...more
The FBI and Department of Homeland Security issued a joint statement on October 20 warning of an increased danger of a malicious “multi-stage intrusion campaign” to critical infrastructure industries, including the energy...more
Amid cyber-attacks that have spread around the globe affecting at least 150 countries, the Federal Bureau of Investigation has issued a FLASH report warning of the effects of a ransomware known as “WannaCry.” The warning –...more
On June 14, 2016, the Federal Bureau of Investigation (FBI) issued a public service announcement relating to a recent surge in ‘business e-mail compromise’ (BEC) scams, which are sophisticated scams that target businesses...more
We have consistently reported about increased phishing attacks through emails that purport to come from high level executives, including CEOs. According to the FBI, the hackers use sophisticated social engineering to spoof...more
An anonymous hacker has contacted the New York Post to explain how he was able to hack into the CIA Director’s AOL email account. According to several reports, a high school student and his two friends implemented social...more
An increasing number of businesses continue to be targeted by very sophisticated email scams designed to convince company employees responsible for executing financial transactions to wire funds to overseas accounts...more
In March, we reported on the Business E-mail Compromise (BEC) scam where criminals target employees responsible for wiring company money, and trick them into wiring money under false pretenses to fraudulent accounts...more
Cyber scammers continually innovate new means to extract valuable information from unsuspecting victims. And a new form of cyber fraud is exploiting the close relationship between CEOs and CFOs. Identifying this threat — and...more