The FBI has today put out a public service announcement regarding Gift card/BEC fraud which has cost businesses in excess of $1 million between January and August 2017.
Corin Imai, Senior Security Adviser at DomainTools:
“BEC fraud continues to be a scourge to businesses, and has now evolved beyond the bank transfer stage. Criminals are highly adaptable, and using gift cards as an alternative form of financial reward for their activities may be borne out of a belief that they are harder to trace than the bank transfer methods we have seen previously. Organisations issuing gift cards need to make sure that they blacklist and trace any cards which are reported fraudulent, and organisations need to remain vigilant, deploying the appropriate anti-fraud and email protection technologies and encouraging employees to use caution.”