Cyber Signals: Shifting tactics fuel surge in business email compromise

Today Microsoft released the fourth edition of Cyber Signals highlighting a surge in cybercriminal activity around business email compromise (BEC). Microsoft has observed a 38 percent increase in cybercrime as a service (CaaS) targeting business email between 2019 and 2022.

Successful BEC attacks cost organizations hundreds of millions of dollars annually. In 2022, the FBI’s Recovery Asset Team (RAT) initiated the Financial Fraud Kill Chain (FFKC) on 2,838 BEC complaints involving domestic transactions with potential losses of more than USD590 million.

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Source: Microsoft