CDSA

Cyber Crime Hit Businesses Hardest in 2015, Says IC3 Report (Threat Post)

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Businesses were hit hardest by inbox-based scams in 2015 that robbed U.S. companies of $263 million. The numbers come from the FBI’s recently released 2015 Internet Crime Report that tallies the types of cybercrimes hitting U.S. business and individuals the hardest. According to the FBI, its Internet Crime Complaint Center (IC3) received 288,012 complaints last year with total losses of $1.07 billion.

By a longshot, Business Email Compromise (BEC) crimes overshadow all other types of crimes looked at by the FBI in 2015. Classified as BEC, these crimes encompass business hit by inbox-based financially motivated scams based on social engineering and computer intrusion techniques resulting in financial loss via unauthorized transfers of funds.

“Victims were instructed through spoofed emails, intercepted facsimiles, or telephone communications to redirect invoice remittance payments,” read the report (PDF). In 2015, the IC3 received 7,838 BEC complaints with losses of over $263 million, the FBI reported.