Organizations all over the world continue to be targeted by business email compromise scam (BEC), and the swindlers stole $742,000 from Ocala City in Florida.
The City of Ocala is the last prey in order of time of a lucrative scam (BEC) attack, with swindlers having redirected over $742,000 to a bank account under their watch.
On the other hand, the top financial media group in Japan and owner of the Financial Times Nikkei has conceded to have suffered an awkward Business Email Compromise (BEC) or commonly known as BEC attack.
Attackers’ emails modelled as a worker of a construction company, Ausley Construction, that is offering its services to the city for building a new terminal at the Ocala International Airport.
The BEC attack occurred in September, when impostors sent an email to a city senior accounting specialist notifying him to send future payments to a new bank account.
Evidently, the attackers had immense knowledge of the targeted organization and such kind of attack suggests a long grounding during which impostors gather as much information possible related to the victims.
Aping vendors or clients is the latest trend observed in BEC tricks, and needs a lot of preparation to produce a message the victim will take seriously. This phase includes social engineering techniques, OSING, and also malware.
Impostors used a message sent from a false address of the company, “ausleyconstructions.com” rather than the genuine” domain.