Tags: BEC

Experian claims fraud costs UK £190 billion per year

Credit service agency Experian has reported that the UK loses over £190 billion per year to fraud. That staggering number comes from its Annual Fraud Indicator 2017 report. £190 billion is equivalent to £10,000 per family. It is more than 9% of the UK’s projected GDP for 2017 ($2,496 (£2,080) billion according to Statistics Times).…

Check Point outs Nigerian hacker

Security researchers at Check Point claim they have identified a Nigerian national responsible for a large number of successful cyber-attacks. The claim is made in a blog published two days ago but doesn’t actually name the hacker. They also claim he can be identified by the use of the phrase “get rich or die trying”…

RiskIQ looks at just one evil Internet minute

    Threat management company RiskIQ has warned of the evil that happens every 60 seconds on the Internet. It has used data from insurance company Hiscox and an article in Forbes. The result is what it calls the inaugral “Evil Internet Minute” where: £656,393 lost to cybercrime 1,080 people fall victim to some form…

Billion-dollar scams

  According to security vendor Trend Micro losses caused by Business Email Compromise (BEC) schemes cost companies around the world in excess of $2.3 billion over the last two years. The value of the scams is increasing as cybercriminals hone their attacks and go after bigger targets. It is easy to think of this as just a financial…