FBI warning of ‘dramatic rise’ in an email scam resulting in $2.3 billion

FBI warning of ‘dramatic rise’ in an email scam resulting in $2.3 billion from 365 iT SOLUTIONS

By: 365 iT SOLUTIONS  08-04-2016
Keywords: Computer Software, Computer Repair, Technical Support

FBI warning of ‘dramatic rise’ in an email scam resulting in $2.3 billion in stolen money as cyber criminals impersonate company’s CEO. How does the email scam work according to the FBI? Pretty simple if you look at the process. Your company will receive an email that looks as if it came from the CEO. The email will instruct the person who manages the company’s finances to send a payment to a certain bank account or provide login information to the company’s payroll system. How does the email scam look genuine? The cyber criminals use a fraudulent domain that looks very similar to your legitimate company website. They setup a fraudulent bank account to where the money is sent as well as get away with payroll information about your employees. My company is safe from this email scam. Are you sure? While many companies are safe to a certain degree from this scam, the numbers are still very surprising. According to the FBI, police officials around the world are aware of this scam and it has been reported in 79 countries. From this scam, cyber criminals have been able to steal over $2.3 billion from October 2013 to February 2016. The number is probably higher as this number is only based on what has been reported. Snapchat, a large tech companies has acknowledged that in February 2016, one of its employees had accidentally revealed payroll information after being hit by this email scam claiming to have been sent by CEO. Seagate, a large data-storage company also fell victim to the scam in March 2016 and Fast Company which is a leading online publisher also handed over confidential information. What do I do I if I fell victim to this email scam? -Contact your financial institution immediately. -Have them contact the financial institution where the fraudulent transfer was sent. -Contact the authorities and file a report regardless of dollar loss What does the FBI warning email scam look like? -Example of email scam from FBI warning. -Email example of what the scam email from FBI looks like to victims. How do I protect my business from this FBI warning email scam? -Always questions e-mail-only wire transfer requests. -Nothing is urgent so always pay attention to “urgency”. -Pick up the phone and verify requests. -Check the domain that it is not a mimicked e-mail addresses. -Always practice multi-level authentication for payments. 365 iT SOLUTIONS is Toronto’s leading IT consulting firm that delivers clear and simple IT services that are 100% Canadian. Our impressive portfolio includes Managed IT Services, IT Support Services, IT Outsourcing Services, Tech Support Services and Cloud Services. Want to see the difference experience and the right technology can make? Check out of Complimentary Network Assessment. We Make IT Simple!

Keywords: Adware Removal, Business technical support, Computer And Software Stores, Computer Hardware, Computer Maintenance, Computer Networking, Computer Repair, Computer Repair And Maintenance, Computer Software, Computer store, Computer Support, computer technician, Data backup, Data Recovery, Fix Computer, laptop repair, network support, Notebook Repair, onsite computer repair, Pc Maintenance, pc repair, Spyware Removal, Technical Support, Virus Removal

Other news and updates from 365 iT SOLUTIONS

A College Just Paid Ransomware to Hackers from 365 iT SOLUTIONS thumbnail
12-01-2017

A College Just Paid Ransomware to Hackers

Cyber crime for 2017 is off to a start as a college just paid ransomware to hackers after they lost control of their network to cyber criminals.


Doxware Ransomware Threatens to Release Sensitive Info Publicly from 365 iT SOLUTIONS thumbnail
06-01-2017

Doxware Ransomware Threatens to Release Sensitive Info Publicly

In the latest twist, Doxware Ransomware malware will hold your computers hostage and if not paid, it will release sensitive info publicly.


Your data backups are no longer enough from 365 iT SOLUTIONS thumbnail
08-12-2016

Your data backups are no longer enough

Many companies understand the importance of regular backups however your data backups are no longer enough. Time to protect your business.


Is your business migrating to the Cloud? from 365 iT SOLUTIONS thumbnail
17-11-2016

Is your business migrating to the Cloud?

Cloud services is noting new however it can help your business. Is your business migrating to the cloud and you have concerns regarding data security, privacy, and cost? We can make it easy.


Cybersecurity is not seen as a business issue from 365 iT SOLUTIONS thumbnail
11-11-2016

Cybersecurity is not seen as a business issue

Hackers, cybercrime and ransomware have been over taking the headlines however cybersecurity is not seen as a business issue and this can have BIG consequences.


19-10-2016

Many companies still don’t know how ransomware works

Many companies still don’t know how ransomware works and how it will affect their organization.


Your cyber security will destroy your value from 365 iT SOLUTIONS thumbnail
11-10-2016

Your cyber security will destroy your value

Despite the damaging ramifications of cyber security threats, many companies may not think it is part of their strategic corporate plan. This is why Your cyber security will destroy your value.


30-09-2016

How Do You Protect Your Business from Hackers Top 5 Attacks?

Recently industry leading security penetration testers put together the most reliable methods for hackers to compromise a network. How do you protect your business from hackers top 5 attacks?


Healthcare takes the top stop for all ransomware from 365 iT SOLUTIONS thumbnail
20-09-2016

Healthcare takes the top stop for all ransomware

Ransomware is attacking and healthcare takes the top stop for all ransomware at a staggering 88 percent. Is your business safe from these security threats?


12-09-2016

Do you use Cisco firewalls? EXTRABACON is a new exploit.

Recently a hacker group hacked successfully into newer Cisco firewalls. Does your company use Cisco firewalls? EXTRABACON is a new exploit and has caused data leaks.


Majority of cloud cyber security risks come from employees from 365 iT SOLUTIONS thumbnail
07-09-2016

Majority of cloud cyber security risks come from employees

Companies are getting smarter and investing in IT to increase their bottom line but the majority of cloud cyber security risks come from employees. How will your business hold up?


That’s not a Microsoft Windows Update, its Actually a Big Security Risk. from 365 iT SOLUTIONS thumbnail
31-08-2016

That’s not a Microsoft Windows Update, its Actually a Big Security Risk.

There is a new ransomware malware out there that’s not a Microsoft Windows Update, its actually a big security risk. Many will be hit by it as it hides itself as a Windows Update. Is your business ready?


Cybercriminals join forces with malware ransomware attacks from 365 iT SOLUTIONS thumbnail
17-08-2016

Cybercriminals join forces with malware ransomware attacks

Kaspersky Lab has seen and incredible increase in cyber-attacks compared to the last quarter as cybercriminals join forces with malware ransomware attacks.


Free Ransomware Decryption Tools from 365 iT SOLUTIONS thumbnail
03-08-2016

Free Ransomware Decryption Tools

Ransomware is increasing but IT security researchers have released two free ransomware decryption tools that can help users recover encrypted files from two new ransomware threats: Bart and PowerWare.


Free Ransomware Decryption Tools from 365 iT SOLUTIONS thumbnail
03-08-2016

Free Ransomware Decryption Tools

Ransomware is increasing but IT security researchers have released two free ransomware decryption tools that can help users recover encrypted files from two new ransomware threats: Bart and PowerWare.