Email Alert - BUSINESS E-MAIL COMPROMISE (BEC)
The Business E-mail Compromise (BEC) is a sophisticated scam targeting businesses working with foreign suppliers and/or businesses that regularly perform wire transfer payments. BEC is a global scam with subjects and victims in many countries. This is just another clear case of Social Engineering at its’ finest.
According to the FBI’s Internet Crime Compliance Center (IC3) characteristics of BEC complaints that have been reported include, but are not limited to, businesses and personnel using open source e-mail, individuals who have been identified as being responsible for handling wire transfers within a specific business, spoofed e-mails that very closely mimic a legitimate e-mail request, and hacked e-mails that often occur with a personal e-mail account.
Have you heard about Online Account Takeover fraud?
Online Account Takeover occurs when someone other than an authorized account holder gains access to accounts online. Fraudsters typically use phishing scams as a way to install virus or malware (malicious software) on a computer. When the user clicks on the link in a phishing email, the virus or malware is downloaded and an alert is sent to the fraudster when the user logs into a secure site, like internet banking. Internet banking user information is then logged by the virus or malware and sent to the cyber thieves allowing them access without the users knowledge.
Stop.Think.Connect.org is the global cybersecurity awareness campaign to help all digital citizens stay safer and more secure online. Queenstown Bank of Maryland partners with Stop.Think.Connect to be able to provide information to our customers about the importance of cybersecurity awareness.
Before you use the Internet, take time to understand the risks and learn how to spot potential problems.
Take a moment to be certain the path is clear ahead. Watch for warning signs and consider how your actions online could impact your safety, or your family’s.
Enjoy the Internet with greater confidence, knowing you’ve taken the right steps to safeguard yourself and your computer.
FTC.gov/OnGuardOnline is the federal government's website to help you be safe, secure and responsible online. The Federal Trade Commission manages OnGuardOnline in partnership with several other federal agencies. OnGuardOnline is also a partner in the Stop Think Connect campaign, led by the Department of Homeland Security and a part of the National Initiative for Cybersecurity Education, led by the National Institute of Standards and Technology.