Scam emails cost people around the world billions of dollars each year. In Australia alone, in 2018, it is estimated that scammers took their victims for over AUD$500m (US$350m, £280m). And it isn't just individuals that are falling prey. Businesses are increasingly being targeted with fake invoices, phone messages and other malicious emails.
Indeed, cyber crime cost US businesses a collective $2.7bn in 2018, according to the FBI’s latest annual Internet Crime Report. Last year, the FBI received more than 20,000 complaints from organisations about what it terms, ‘business email compromise’ (BEC), a catch-all phrase for a number of crimes that leverage tactics — like phishing, targeted email spoofing…
This content is for subscribers only. Subscribe now for free to read the full article.
Already a subscriber? Login
