While ransomware and ransomware-as-a-service (RaaS) attacks have dominated much of the cybersecurity community’s discussions over the past several months, criminals and hackers continue to compromise corporate, business and personal emails for financial gain. These scams, business email compromise (BEC) and personal email account compromise (EAC), continue to be the most pervasive and costly reported cyberthreats to users daily. In its latest annual report, the Federal Bureau of Investigation (FBI) identified that BEC and EAC accounted for at least $1.86 billion in losses within the U.S. in 2020, a 5% increase over losses reported in 2019. BEC and EAC accounted for 45% of all 2020 reported cybercrime losses in the U.S., and individuals over 60 years of age accounted for 11% of the reported victims.
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Source: Palo Alto/Unit 42