Business Email Compromise Losses Up 2,370 Percent Since 2015

Business Email Compromise BEC schemes, where executives are scammed via social engineering and phishing compromises that ultimately lead to fraudulent wire transfers, grew at a jaw-dropping rate of 2,370 percent in the last two years. The FBI yesterday published its latest statistics on these...

Cybercrime Gang Recruiting Botmasters for Large-Scale MiTM Attacks on American Banks

A slew of major American banks, some already stressed by a stream of DDoS attacks carried out over the past 10 days, may soon have to brace themselves for a large-scale coordinated attack bent on pulling off fraudulent wire transfers. RSA’s FraudAction research team has been monitoring undergroun...