Inside the $5.3B scheme to infiltrate your work email

By Reuters

Fraudsters sought to steal $5.3 billion through schemes known as business email compromise from October 2013 through December, the FBI said in a report released Thursday by its Internet Crime Complaint Center.

The figure is up sharply from the FBI’s previous report, which said thieves attempted to steal $3.1 billion from October 2013 through May 2016, according to a survey of cases from law enforcement agencies around the world.

The number of business email compromise cases, in which cybercriminals request wire transfers in emails that look like they are from senior corporate executives or business suppliers who regularly request payments, almost doubled from May to December of last year, rising to 40,203 from 22,143, the FBI said.

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