Business Email Compromise (BEC) , Fraud Management & Cybercrime , Governance & Risk Management

FBI: 2021 Business Email Compromise Losses Hit $4.3 Billion

Also: Privacy Updates; Improving Industry Collaboration
FBI: 2021 Business Email Compromise Losses Hit $4.3 Billion

The latest edition of the ISMG Security Report discusses how the leader of a "transnational cybercrime syndicate" has been arrested in Nigeria, according to Interpol. It also shares updates on U.S. privacy laws and how we can improve collaboration as an industry.

In this report, you'll hear (click on player beneath image to listen):

  • ISMG's Mathew Schwartz discuss how police in Nigeria this week announced the arrest of a man who's been charged with running a criminal syndicate tied to massive business email compromise and phishing campaigns;
  • Attorney Lisa Sotto share updates on changes to U.S. privacy laws;
  • Former federal CISO Grant Schneider detail how we as an industry can improve collaboration and information sharing.

The ISMG Security Report appears weekly on this and other ISMG websites. Don't miss the May 12 and May 20 editions, which respectively discuss lessons for cybersecurity leaders from the Russia-Ukraine war and the big changes to the ransomware ecosystem since Colonial Pipeline.

Theme music for the ISMG Security Report is by Ithaca Audio under a Creative Commons license.

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