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A Single Spoofed Email Cost This Company $47 Million In 2024, the SEC disclosed that Ubiquiti Networks lost $46.7 million after attackers used a spoof of executive email accounts to trick the finance department into wiring funds to overseas accounts. The employees thought they were following orders from the
A Single Spoof Email Cost This Company $121 Million In 2019, Toyota Boshoku Corporation disclosed that a subsidiary lost $37 million after an attacker used a spoofed email to impersonate a senior executive and authorize a fraudulent wire transfer. That wasn't an isolated case. Business email compromise (BEC)
In July 2021, the FBI's Internet Crime Complaint Center reported that business email compromise — overwhelmingly powered by spoof techniques — cost victims over $1.8 billion in 2020 alone. That made it the single most financially damaging category of cybercrime they tracked. Not ransomware. Not credential theft. Spoofing-driven impersonation.
