Hackers employed homograph attacks and Office 365 email addresses in a coordinated BEC scam to steal over $15 million from over 150 businesses.
Russian hackers appear to have shifted their cybercrime focus to BEC scams as new study shows that they have struck over 200 businesses in 46 countries since July 2019.
Toyota subsidiary has recently lost $37 million in a BEC scam. Unlike many companies, the large fund transfer did not seem to raise any initial alarms and warnings.
Norfund, the sovereign wealth fund of Norway, has lost over $10 million to BEC scam and it appears that the scammers had spent months inside the networks leading to the fraud.