Business Email Compromise (BEC)
Wire transfer fraud, CEO spoofing, and email wire fraud investigation + recovery
Business Email Compromise (BEC) is a Sophisticated Scam
Wire transfer fraud, CEO spoofing, and email wire fraud are all known as Business Email Compromise (BEC); it is a sophisticated scam takes advantage of trust in organizations. The scam relies trust placed in key individuals in a company and the helpfulness of people in support roles. There are four basic styles of email compromise, all of which end in someone sending wire to an account controlled by the scammer:
- the fake executive email,
- the fake vendor invoice,
- the fake employee email,
- and the fake lawyer email.
Among the new trends for identifying targets are real estate transactions. Cyber criminals are targeting buyers, sellers, agents, and lawyers engaged in property transfer. The cyber criminals, which include hackers, social engineers, and possibly insiders, use sophisticated techniques to initiate a change in wiring instructions to divert funds.
Email compromise scams are planned attacks that involve elements of social engineering and are usually pre-empted by phishing emails that request limited, seemingly harmless, information. In some cases, incidents of data theft, ransomware, or malware occur just before an email compromise scam. In this way, scammers best mimic a legitimate business email and mimic your typical business practices.
CEO Fraud, Bogus Invoice Scam?
McCann is here to help. If you believe you or your organization has fallen victim to an email compromise scam, our expert investigators will help you take the right steps to recovery. We will provide a free consultation and outline the steps you and your response team need to take to gather and maintain the evidence you need to pursue litigation or an insurance claim. We can also explain the critical use of an licensed investigator to perform the forensic investigation and provide an objective opinion on the origination and scope of the compromise scam.
McCann is trusted by
Somehow my soon to be ex-husband knew confidential information that I had only discussed with my attorney. I suspected that he had planted some sort of listening device in my home. I called McCann…Jane D, McCann Client