FBI officials are warning potential victims of a dramatic rise in the business email compromise scam or B.E.C., a scheme that targets businesses and has resulted in massive financial losses in Phoenix and other cities. The schemers go to great lengths to spoof company e-mail or use social engineering to assume the identity of the CEO, a company attorney, or trusted vendor. They research employees who manage money and use language specific to the company they are targeting, then they request a wire fraud transfer using dollar amounts that lend legitimacy. There are various versions of the scams. Victims range from large corporations to tech companies to small businesses to non-profit organizations. Many times, the fraud targets businesses that work with foreign suppliers or regularly perform wire transfer payments.
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- UPDATED LOGO & .BANK EMAIL & WEBSITEFirst Business companies align as First Business Bank with a refreshed logo and a .BANK domain featuring enhanced security. Read more about these new changes: