FBI: $1.2B Lost to Business Email Scams

FBI $.2B Lost to Business Email Scams
Written by TechBug

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The FBI today warned about a significant spike in victims and dollar losses stemming from an increasingly common scam in which crooks spoof communications from executives at the victim firm in a bid to initiate unauthorized international wire transfers.

According to the FBI, thieves stole nearly $750 million in such scams from more than 7,000 victim companies in the U.S. between October 2013 and August 2015.

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