FBI Advisory

Business Email Compromise Trends 2024

IC3-BEC-2024 • Published September 11, 2024

Severity: high

Criminals are sending fake emails pretending to be bosses or vendors, tricking companies into sending money to wrong accounts. They have stolen over $50 billion this way. Now they are using AI to make fake videos of executives to be even more convincing.

Overview

FBI IC3 alert on the continued growth of Business Email Compromise (BEC) attacks, which have caused over $50 billion in losses globally. Attackers are increasingly using AI-generated deepfakes in BEC schemes.

Who Is At Risk

  • • Finance departments
  • • Accounts payable teams
  • • Real estate transactions
  • • Legal firms handling closings
  • • Any organization making wire transfers

Is your business exposed?

Immediate Actions

  1. 1.

    Implement verbal verification for wire transfers

  2. 2.

    Train finance staff on BEC indicators

  3. 3.

    Use multi-person approval for large transfers

  4. 4.

    Verify payment changes through known contacts

  5. 5.

    Implement DMARC email authentication

Official Source

https://www.ic3.gov/Media/Y2024/PSA240911

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