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.

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