The 420 reported:
Lakhs Lost in Business Email Compromise Scam After ‘.com’ Was Changed to ‘.cam’.
Cybercriminals allegedly cheated an engineering company out of ₹10.45 lakh in a sophisticated Business Email Compromise (BEC) scam by making a minor change to the supplier’s email domain.
The investigation revealed that the fraudsters created an email address that closely resembled the supplier’s legitimate email account by changing only the domain extension from “.com” to “.cam”. Because the difference was barely noticeable, the email appeared authentic, and the company’s accounts department failed to detect the alteration.
Cybercriminals allegedly cheated an engineering company out of ₹10.45 lakh in a sophisticated Business Email Compromise (BEC) scam by making a minor change to the supplier’s email domain.
The investigation revealed that the fraudsters created an email address that closely resembled the supplier’s legitimate email account by changing only the domain extension from “.com” to “.cam”. Because the difference was barely noticeable, the email appeared authentic, and the company’s accounts department failed to detect the alteration.
Find the original article here.
Takeaway: Have a separate process for remittance changes that includes controls, validations, authentication and best practices. Review the email to see if there are any red flags. Use an AI Tool to help. Check out the training session to see how to use Microsoft Copilot to spot red flags in an email or your inbox.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat
Takeaway: Have a separate process for remittance changes that includes controls, validations, authentication and best practices. Review the email to see if there are any red flags. Use an AI Tool to help. Check out the training session to see how to use Microsoft Copilot to spot red flags in an email or your inbox.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat