Category: BEC & Fraud

In an age when almost everything is becoming digitized, cyber criminals are increasingly using more sophisticated and diverse methods to launch attacks. According to a report by renowned cybersecurity firm, Kaspersky, QR codes, once lauded as a convenient means of sharing information, have now become a tool for fraudsters to carry out phishing attacks. Initially, […]

US cyber insurance claims have risen by 12% in the first half of 2023, driven by a surge in ransomware and funds transfer fraud (FTF), according to Coalition, Inc. and reported by CSO Online. The severity of claims has also increased by 42%, with an average loss amount of over $115,000. Ransomware-related claims have seen […]

Michigan resident Timy Hakim has been sentenced to two years in prison and an additional six months of home detention for his involvement in a conspiracy to defraud at least 15 elderly victims through romance scams, lottery schemes, and business email compromise (BEC) fraud. The sentencing was carried out by U.S. District Judge Lewis J. […]