The FBI is investigating a global business email compromise (BEC) campaign that has netted cybercriminals at least $15 million in illicit proceeds.
On Wednesday, cybersecurity researchers from Mitiga said the campaign, which is ongoing, uses social engineering techniques to impersonate senior executives using Microsoft Office 365 email services.
The Israeli incident response company said over 150 organizations — ranging from law, construction, finance, and retail — have been identified as victims worldwide. The majority of those tracked so far are in the United States.
BEC scams focus on targeting businesses and organizations through email fraud, often with financial gain in mind. Analysts estimate that in Q2 2020, the average successful BEC campaign now nets fraudsters $80,000…