Cybercriminals could be getting better, and more creative, at stealing money from businesses. This summer the FBI issued a warning about a rapidly growing cyberscam that distributes fake emails within companies that purportedly authorize fraudulent wire transfers. The malicious emails are designed to appear as if they came from the company’s top chief executive.
This trick is known as business email compromise, and it has blossomed as the favored tactic du jour for cybercriminals. Apparently cybercriminals are assuming that small and medium companies do not have the technical awareness or resources to deflect this and other cyberattacks.
Read full article at Independent Banker.