11/17/2015 3:33:48 PM
Business E-mail Compromise Scam or BEC Scam
Please be aware of an increasing type of fraud. BEC Scams general target victims who frequently make wire transfers. There are several different ways this scam is completed, often by e-mail, facsimile, or telephone call.
An example of the e-mail version: the scammers hack e-mail accounts and use information to create and send what appear to be legitimate (yet fraudulent) e-mails. These e-mails give instructions on how to complete pending business or legal transactions by making wire transfer deposits to fraudulent bank accounts. These pending transactions could be related to standard business transactions, investment transactions, or civil litigation cases.
The scam is often assumed to be legitimate because the scammer creates an originating e-mail account that appears almost identical to the hacked account. For example, if the target company’s account was “example.com” the thieves might register “examp1e.com” (substituting the numeral 1 for letter “L”) or “example.co,” and send messages from that account. The specific information used by the scammers also contribute to the believability of the scam. For instance, they learn a business makes frequent supply purchase so the scammers request the business to make payments of pending invoices via wire transfer.
From October of 2013 to December of 2014 over $179 million reported loss in the US alone. Please be vigilant to verify all emails or contacts while making transactions. Please review the IC3.gov website for more information regarding BEC scams, https://www.ic3.gov/media/2015/150122.aspx.
Report any attempts or losses related to BEC scams immediately to IC3.gov.