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Cyber-fraudsters move quickly from compromised devices to account takeover to funds transfer, shifting money before many financial institutions can react.
Cyber-insurance carrier Coalition said business email compromise and funds transfer fraud accounted for 60% of claims in 2024.
Fraudsters are targeting high-turnover workforces and compromising accounts that are associated with frequent payouts.
Chalk up another win for global cooperation among law enforcement, this time targeting seven types of cyber fraud, including voice phishing and business email compromise.
By examining common social engineering tactics and four of the most devious threat groups, organizations can better defend themselves.
Email fraud is a confidence game that costs the economy billions. An effective defense takes technology and vigilance.
Fraudster innovation will continue to drive successful phishing, business email compromise, and socially engineered attacks, researchers say.