If your company has suffered losses because of BEC fraud and you believe the stolen funds are in Nigeria, Allen Forensics can help you recover stolen funds that have been confiscated by the EFCC or traced by law enforcement.
Are You a Victim of
Business Email Compromise?
Business Email Compromise (BEC) is internet fraud in which a business is deceived into transferring money to a criminal’s bank account by a fake email. Criminals first hack into a network and familiarize themselves with the company’s business emails, staff directories, and payment processes. Then they send a legitimate-looking email instructing a company employee to wire a payment to the criminal’s bank account.
For the past three years, BEC has been the costliest form of internet crime. More than 19,000 BEC scams were reported to the FBI in 2020, with losses totaling approximately S1.8 billion. In 2020, BEC crimes jumped 14% over the previous year, typically targeting small and medium-sized businesses.
For the past three years, BEC has been the costliest form of internet crime. More than 19,000 BEC scams were reported to the FBI in 2020, with losses totaling approximately S1.8 billion. In 2020, BEC crimes jumped 14% over the previous year, typically targeting small and medium-sized businesses.
According to Agari, a leader in email protection solutions, 50% of BEC gangs operate in Nigeria, 25% in the U.S., and the rest mainly in South Africa, the UK, Canada, and UAE. The FBI works with law enforcement agencies in the U.S. and internationally to counter internet crime. If a BEC incident is reported quickly, the payment can often be traced and recovered before it is withdrawn from the scammer’s bank account. Law enforcement can follow the money trail to identify and arrest the criminals.
If your company has suffered losses because of BEC fraud, contact Allen Forensics today. Allen Forensics can help you recover stolen funds that have been confiscated by the EFCC or traced by law enforcement.
