What is BEC?
Business Email Compromise is a sophisticated scam targeting both businesses and individuals performing a transfer of funds. The scam is frequently carried out when a subject compromises legitimate business e-mail accounts through social engineering or computer intrusion techniques resulting in an unauthorized transfer of funds.
- Contact the originating Financial Institution as soon as fraud is recognized to request a recall or reversal as well as a Hold Harmless Letter or Letter of Indemnity.
- File a detailed complaint with www.ic3.gov. It is vital the complaint contain all required data in provided fields, including banking information.
- Visit www.ic3.gov for updated PSAs regarding BEC trends as well as other fraud schemes targeting specific populations (real estate, pre-paid cards, W-2, etc.).
- Never make any payment changes without verifying with the intended recipient; verify email addresses are accurate when checking mail on a cell phone or other mobile device.