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Between the second and third weeks of March 2020, email scams and phishing attacks spiked by an unprecedented 436%. Such was the effect of the COVID-19 pandemic. Meanwhile, business email compromise (BEC) attacks have been less affected by the pandemic, but have also increased and evolved.

COVID-19 Fuels Phishing and Scams While BEC Attacks Evolve and Increase

In the most recent phishing campaign, threat actors impersonated Wells Fargo, leading its customers to phishing pages using fake calendar invites via .ics calendar file attachments. Threat actors were then able to trick unsuspecting customers into entering sensitive information and credentials.

Phishing attacks target unsuspecting Wells Fargo customers

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There has been a 200 percent increase in BEC attacks focused on invoice or payment fraud from April to May 2020, according to Abnormal Security. This sharp rise continues the trend. Also, according to the report, invoice and payment fraud attacks increased more than 75 percent in the first three months of 2020.

200% increase in invoice and payment fraud BEC attacks

Abnormal Securitytoday published research data that shows a 200 percent increase in BEC attacks focused on invoice or payment fraud from April to May 2020. This sharp rise continues the trend observed by Abnormal Security throughout the year.

Abnormal Security Data Reveals 200 Percent Monthly Increase in Invoice and Payment Fraud Business Email Compromise Attacks

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Abnormal Security provides advanced email security to prevent credential phishing, business email compromise, account takeover, and more.

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The Business Email Compromise (BEC) is a more focused and potentially more profitable type of phishing scam favored by many cybercriminals. Abnormal Security found a 75% increase in this type of campaign in the first three months of the year and a spike of 200% from April to May.

2020 sees rise in invoice and payment fraud BEC attacks

The Business Email Compromise (BEC) is a more focused and potentially more profitable type of phishing scam favored by many cybercriminals. Abnormal…

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2020 sees rise in invoice and payment fraud BEC attacks

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