FBI Anticipates Rise in Business Email Compromise Schemes Related to the COVID-19 Pandemic
Fraudsters will take advantage of any opportunity to steal your money, personal information, or both. Right now, they are using the uncertainty surrounding the COVID-19 pandemic to further their efforts.
Business email compromise (BEC) is a scam that targets anyone who performs legitimate funds transfers. Recently, there has been an increase in BEC frauds targeting municipalities purchasing personal protective equipment or other supplies needed in the fight against COVID-19.
In a typical BEC scheme, the victim receives an email they believe is from a company they normally conduct business with, but this specific email requests funds be sent to a new account or otherwise alters the standard payment practices.