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One Email Cost This Company $37 Million In 2024, Orion Engineering — a mid-size firm with 200 employees — wired $37 million to what they believed was a trusted overseas supplier. The invoice looked legitimate. The email thread was real. The bank details were the only thing that had changed. By the
In 2023, the FBI's Internet Crime Complaint Center (IC3) reported that business email compromise caused $2.9 billion in adjusted losses — making it the single most financially devastating cybercrime category they track. Not ransomware. Not credential theft rings. BEC. And that number only reflects what gets reported. I&
In December 2024, a finance employee at a multinational firm in Hong Kong wired $25 million after a video call with what appeared to be the company's CFO and several colleagues. Every person on that call was a deepfake. The real CFO had never scheduled the meeting. This
In 2023, the FBI's Internet Crime Complaint Center reported that business email compromise accounted for $2.9 billion in adjusted losses — making it the single costliest category of cybercrime they track. Not ransomware. Not credit card fraud. Email scams where someone pretends to be your CEO, your vendor,
In 2021, the FBI's Internet Crime Complaint Center received 19,954 business email compromise complaints with adjusted losses of nearly $2.4 billion. That made BEC the single most financially damaging cybercrime category — beating ransomware by a factor of almost 49 to 1. And those are just the
In 2020, the FBI's Internet Crime Complaint Center received 19,369 business email compromise complaints. The adjusted losses? A staggering $1.8 billion — making BEC the single most financially devastating cybercrime category in the FBI IC3 2020 Internet Crime Report. That's more than ransomware, more than
