FBI: Email Account Compromise Losses Reach $12B

ronjor · Jul 13, 2018

Dark Reading Staff 7/13/2018

There were more than 78,000 business email account (BEC) and email account compromise (EAC) scam incidents worldwide between October 2013 and May 2018.
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guest · Oct 29, 2018

Secret Service Confirms Focus on Email Compromise Cybercrimes Worth $12 Billion
Reports real estate BEC 1100% incident increase over 2 years
October 30, 2018
https://news.softpedia.com/news/sec...ise-cybercrimes-worth-12-billion-523487.shtml

"The Secret Service focuses on financially motivated cyber criminals," as detailed by Secret Service Assistant to the Special Agent in Charge (ATSAIC) Matthew O’Neill.

As reported by the Federal Bureau of Investigation (FBI) on July 12, the exposed dollar loss reached a staggering $12,536,948,299 between October 2013 and May 2018, with 41,058 US victims and 2,565 non-US in total.

In his speech at the "Inside the Business of Cybercrime" forum, ATSAIC O’Neill also stated (.PDF) that the types of cybercrimes the Secret Service is investigating on a daily basis now range from phishing and sim swapping to more severe crimes such as scam initial coin offerings to theft of virtual currency.
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"Secret Service Takes the Fight to Cyberspace.pdf" (PDF): https://www.secretservice.gov/data/press/releases/2018/18-OCT/CMR_60-18_Secret_Service_Takes_the_Fight_to_Cyberspace.pdf

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FBI: Email Account Compromise Losses Reach $12B

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