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Cyber-Enabled Financial Fraud on the Rise Globally

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FYI for our community:  

Some of our Symantec customers have reported receiving phone calls from scammers impersonating Symantec and seeking to socially engineer financial information from them.

This scam falls into the category the FBI refers to as Business Email Compromise (BEC). The FBI has documented how it works here and reported that losses from this type scam have reached $26B (https://www.ic3.gov/media/2019/190910.aspx).

Symantec has been tracking the email version of this threat and providing protection from email-based scams through our Enterprise Security solutions. However, few technology solutions exist to address phone-based scams, which has led to their prevalence. These scams can best be prevented via training, policies and procedures. You may have these in place already, but this may be a good opportunity to review them with your employees now.

You can read in more detail here about BEC scams 


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