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Home   »   Author / Ryan Flores (Threat Research Manager)

Ryan Flores

Threat Research Manager

CEO Fraud Email Scams Target Healthcare Institutions

  • Posted on:November 23, 2016
  • Posted in:Malware, Targeted Attacks
  • Posted by:
    Ryan Flores (Threat Research Manager)
0

A series of Business Email Compromise (BEC) campaigns that used CEO fraud schemes was seen targeting 17 healthcare institutions in the US, ten in the UK, and eight in Canada over the past two weeks. These institutions range from general hospitals and teaching hospitals to specialty care and walk-in clinics. Even pharmaceutical companies were not safe from the BEC scams, as one UK-based company and two Canadian pharma companies were also targeted.

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Tags: BECbusiness email compromiseCEO fraud

Company CFOs Targeted The Most By BEC Schemes

  • Posted on:June 9, 2016
  • Posted in:Social, Targeted Attacks
  • Posted by:
    Ryan Flores (Threat Research Manager)
0

It should not come as a surprise that company executives (particularly the CEO and President) and other revered high-level employees get to be impersonated often for criminal reasons. How can you say no when it’s the CEO asking? How can you not comply when it’s already the President specifically requesting? Gone are the days of the telltale signs of an email scam: glaring grammatical errors and outlandish stories about lottery winnings or royalty riches. Today, Business Email Compromise (BEC) scammers use this regard of authority to target internal employees who may deal with and handle the finance of the company: the Chief Financial Officers (CFOs).

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Tags: BECbusiness email compromiseCEO fraudemail fraud

Olympic Vision Business Email Compromise Campaign Targets Middle East and Asia Pacific Companies

  • Posted on:March 16, 2016
  • Posted in:Malware, Targeted Attacks
  • Posted by:
    Ryan Flores (Threat Research Manager)
0

There’s a reason why the FBI estimates that the average loss caused by Business Email Compromise (BEC) to be $130,000 per company. Employees are not familiar with current social engineering strategies, and the network setup is not equipped enough to keep the threat from getting in the network. And this same situation is clearly depicted in an ongoing BEC campaign targeting companies in the US, Middle East, and Asia.

The attack, which has been traced back to Lagos and Kuala Lumpur, targets companies from several industries such as real estate, manufacturing, and construction.

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Tags: BECbusiness email compromiseCEO fraudcorporate email scaminvoice fraud

Battling Business Email Compromise Fraud: How Do You Start?

  • Posted on:January 26, 2016
  • Posted in:Malware, Targeted Attacks
  • Posted by:
    Ryan Flores (Threat Research Manager)
0

In May 2014, an accountant to a Texas manufacturing firm received an email from a familiar correspondent, his company’s CEO. The email instructed him to wait for a call from a partner company and warned against sharing the email to anyone else for fear of regulation backlash. The company ended up losing US$ 480,000 to wire fraudsters who used the potent and very costly business email compromise (BEC) scam or CEO fraud. The firm is now suing its cyber insurer for not covering the loss.

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Tags: BECbusiness email compromiseCEO fraudcorporate email scaminvoice fraud

DRIDEX Spam Runs Resurface Against US Targets

  • Posted on:November 25, 2015
  • Posted in:Malware, Spam
  • Posted by:
    Ryan Flores (Threat Research Manager)
2

DRIDEX is steadily regaining its footing in the US just over a month after its takedown orchestrated by US and UK law enforcement agencies. Taking down servers is a significant step in crippling botnets, but unless all infrastructure are destroyed and all threat actors are caught, threats like DRIDEX are bound to resurface. As such, it…

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Tags: DRIDEXfinancial spamonline banking malwareSpam
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Security Predictions for 2020

  • Cybersecurity in 2020 will be viewed through many lenses — from differing attacker motivations and cybercriminal arsenal to technological developments and global threat intelligence — only so defenders can keep up with the broad range of threats.
    Read our security predictions for 2020.

Business Process Compromise

  • Attackers are starting to invest in long-term operations that target specific processes enterprises rely on. They scout for vulnerable practices, susceptible systems and operational loopholes that they can leverage or abuse. To learn more, read our Security 101: Business Process Compromise.

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