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Business E-mail Compromise
We want you to be aware of the different ways criminals may try to steal not just your money but also your company's identity.
The Business E-mail Compromise (BEC) is a sophisticated scam targeting businesses working with foreign suppliers and/or businesses that regularly perform payments using an email from a company owner (CEO or CFO) as the authority to carry out the payment. Little does the payment processor know that the email is not a genuine company request.
There are two variations of this fraud type, which are as follows -