The highly anonymous and often secretive nature of the internet has led to the proliferation of scams aimed at separating people and organizations from their money. Trend Micro has been following these scams over the years and have seen many of them evolve from simplistic schemes to more sophisticated campaigns. One of the most dangerous scams today — one which cost organizations a combined US$1.7 billion in exposed losses in 2019 — is Business Email Compromise (BEC).
We have already tackled a large number of BEC-related topics. In this article, however, we would like to raise awareness about a new modus operandi involving a very clever BEC campaign that uses social engineering to target a huge number of French companies across different industries.
Source: Trend Micro