FBI Warns Companies to Be Vigilant as COVID-19-Themed BEC Scams Continue to Grow
As the COVID-19 pandemic continues to cause chaos across the globe, cyber attacks seeking to exploit the crisis on the rise as well. In particular, the frequency of COVID-19 business email compromise (“BEC”) schemes – a particularly low-tech, but highly damaging, type of cyber scam – has risen significantly since the onset of the global health emergency, so much so it prompted the Federal Bureau of Investigation (“FBI”) to issue two alerts warning businesses of the growing threat. As such, businesses must take appropriate measures to effectively mitigate the enhanced risk posed by BEC fraud, which is expected to increase even further in the coming weeks and months.
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“FBI Warns Companies to Be Vigilant as COVID-19-Themed BEC Scams Continue to Grow,” by Jeffrey N. Rosenthal and David J. Oberly was published in the September 2020 edition of The Computer & Internet Lawyer (Vol. 37, No. 8), a Wolters Kluwer publication. Reprinted with permission.
This article was first published as a Blank Rome Cybersecurity & Data Privacy client advisory on June 4, 2020.