FBI: Bank Losses From BEC Attacks Top $43B
Law enforcement attributes a recent 65% spike in BEC attack losses to COVID-19 restrictions and the ongoing reality of a remote workforce.
Stay informed on the latest COVID-19 cyber threats and infosec trends. Protect your data from pandemic-related cyber attacks with our news and insights.
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Background for this topic.
COVID-19 is a viral respiratory illness caused by the SARS-CoV-2 virus, responsible for a global pandemic starting in 2020. The pandemic triggered widespread changes in work and communication, including rapid adoption of remote work and digital services, which altered the cybersecurity landscape.
In information security, COVID-19 increased risks such as phishing campaigns exploiting pandemic-related themes to steal credentials or deliver malware, and attacks on healthcare organizations critical to pandemic response. The sudden shift to remote work often led to misconfigured systems and weaker endpoint security, expanding attack surfaces. Organizations had to prioritize securing remote access, updating threat intelligence to detect COVID-19-themed scams, and reinforcing user awareness to mitigate these targeted threats.
Law enforcement attributes a recent 65% spike in BEC attack losses to COVID-19 restrictions and the ongoing reality of a remote workforce.