FDIC Consumer News
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The Federal Bureau of Investigation issued a Public Service Announcement entitled BUSINESS E-MAIL COMPROMISE: THE 3.1 BILLION DOLLAR SCAM. You can see the PSA Video here.
FBI officials are warning potential victims of a dramatic rise in the business e-mail compromise scam or “B.E.C.,” a scheme that targets businesses and has resulted in massive financial losses in Phoenix and other cities.
The schemers go to great lengths to spoof company e-mail or use social engineering to assume the identity of the CEO, a company attorney, or trusted vendor. They research employees who manage money and use language specific to the company they are targeting, then they request a wire fraud transfer using dollar amounts that lend legitimacy.
There are various versions of the scams. Victims range from large corporations to tech companies to small businesses to non-profit organizations. Many times, the fraud targets businesses that work with foreign suppliers or regularly perform wire transfer payments.
Equifax has experienced a data breach impacting approximately 143 million US consumers.
Please read the Federal Trade Commission Consumer Information's article to find out if your information has been compromised and what you can do to protect yourself.
Equifax Breach: What to Do
For more steps you can take to protect yourself and your credit, read more from the Consumer Financial Protection Bureau.
Identity Theft Protection after Breach
Scam Warning - The Federal Trade Commission provides important warnings about Equifax calls in this article.