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In yet another sign that cybercriminals are keen to exploit the current world situation, in the second and third weeks of March business email compromise (BEC) attacks increased more than 430 percent according to email security specialist Abnormal Security.

In the early part of the year attacks on C-Suite executives decreased by 37 percent from Q4 2019 to Q1 2020, while the focus shifted to finance employees, attacks targeting them increasing 87 percent in Q1 2020 against Q4 2019.

Business email compromise attacks spike in March

Scammers have tried to rip off computer equipment suppliers with a targeted email that impersonated the Commissioner of the Texas Department of State Health Services (DSHS).

Texas businesses targeted in Department of State Health RFQ phishing

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Abnormal Security, a San Francisco-based cybersecurity company, landed a $50 million Series B led by Menlo Ventures with participation from existing investor Greylock. Abnormal has tripled its annual recurring revenue through this year and has now raised $75 million to date.

The Briefing: Heyday Closes On $175M, K Health Raises $42M, And More

The research, which analyzes business email compromise attacks tracked by Abnormal from July-September 2020, found that BEC campaign volume increased 15% quarter-over-quarter, driven by an explosion in invoice and payment fraud.

Business Email Compromise (BEC) Attacks Rise in 75% of Industries According to Abnormal Security Research

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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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Cyber-criminals have tried to receive free goods by posing as the Texas government and emailing out Requests for Quotes (RFQs). The multi-layered email attack, in which threat actors pretended to be from the Texas Department of State Health Services, was discovered by researchers at Abnormal Security.

Cyber-Criminals Spoof Texas Government

Cyber-criminals have tried to receive free goods by posing as the Texas government and emailing out Requests for Quotes (RFQs). The multi-layered email…

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Cyber-Criminals Spoof Texas Government

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