Business email compromise more costly than most other fraud attacks combined

Business Email Compromise (BEC), a type of cyber-fraud in which attackers use compromised email accounts to launch attacks on businesses, is growing both more popular among cybercriminals and more devastating. This is according to a new report from TradingPlatforms.com, which claims that BEC was more costly than most other frauds combined in the US last year. In 2020, the FBI’s …

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Ransomware attacks are now more costly than ever

Were it not for a single ransomware group and its enormous demands, average and median ransom figures would have been lower in Q1 2021, compared to previous quarters. However, the average ransom payment has risen 43 percent, and median ransom payment rising 59 percent, quarter-on-quarter. This is according to a report from ransomware recovery company Coveware, which states that the …

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