The Federal Bureau of Investigation is sending out a warning after multiple Middle Tennessee businesses have fallen victim to cyber criminals.
Cyber criminals are figuring out ways to get your hard earned money, and this time they are targeting businesses through their email accounts.
They are called business e-mail compromise schemes, or BEC for short. According to the FBI, there has been a dramatic increase in those schemes. BEC schemes target businesses, and multiple Nashville businesses have already taken massive financial hits.
Dean Kinsman is a Supervisory Special Agent of the Cyber Crimes Squad in Nashville with the FBI and said these scams are very sophisticated. These oftentimes overseas criminals target businesses that regularly authorize wire transfer payments through e-mail.
Scammers spoof company e-mail addresses or use social engineering to take on the identity of the CEO, a company attorney, or a trusted vendor.
These criminals do their research and learn more about the employees who manage money and use the language specific to the company they are targeting.
Kinsman said there are ways you can prevent your business from becoming the next victim of one of these scams.
"Pay attention to the email you're actually receiving and who it's from. Many times a subject in these scams will create a look-alike email address. What I mean by that, let's say I sell widgets, and in the domain name where instead of an I in widgets, they'll put a one," said Kinsman.
Last year $675 million was reported stolen in these scams.
If you feel you have become a victim to this scam, or prevented one from happening, the FBI would like to hear from you. You can report what happened by visiting them online here.
These reports help the FBI to investigate individuals and groups who are committing these crimes and are essential to the FBI’s investigations.
