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Large Increase in BEC Scams in 2020, as the Business World Shifts Online

These days, most people are aware that cybercrime is a very real and ever-increasing threat. Due to the Covid-19 pandemic, many workers were forced to work remotely for the first time, from their bedrooms, living rooms and kitchen. Terms like ‘phishing’ and ‘ransomware’ are now frequently seen and heard, but there is another type of threat that has seen a huge increase in frequency in 2020 – Business Email Compromise.

Business Email Compromise (BEC) scams, also known as ‘CEO Fraud’, stole billions of dollars from businesses in 2020 alone.
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