FBI Fights BEC Schemes

If you or your customers have been victimized by a business email compromise (BEC) scheme, you’re not alone. This type of fraud is common and often involves criminals either accessing a business’ email or sending an email from what appears to be an address associated with a business that requests a wire transfer(s). The accounts provided for receiving the funds; however, are controlled by the criminals.

The FBI recently launched an effort to disrupt such BEC schemes and, over FBIa three-month period, “Operation Eagle Sweep”, uncovered many suspects not only in the United States but around the world.

Just a reminder that a BEC scheme can trigger a Suspicious Activity Report (SAR) if the filing thresholds are met, regardless of whether the scheme is successful or whether there was an actual loss. The following Advisory (FIN-2019-A005) outlines additional information on SAR filing. BEC victims are also encouraged to file an online complaint with the FBI’s Internet Crime Complaint Center.

 

BSA Resources!

 

Published
2022/04/25
Amy Kudlacek

Amy Kudlacek

Amy brings many years of banking and compliance experience to Banker’s Compliance Consulting. She has worked for both large and small financial institutions and spent time working in every area of a bank. She started out as a teller in college and eventually became a branch manager. Her love, however, was always compliance. Amy began her career with Banker’s Compliance Consulting in 2000. Her knowledge and experiences have allowed her to develop a well-rounded and practical approach to regulatory compliance. Amy is CRCM certified, has a Bachelors Degree in Business Administration and is a graduate of the ABA Compliance School. Amy & her husband have two children at home and stay busy following their activities. They spend a lot of time in the bleachers!

Recent Posts

Flood: Relying on A Prior Flood Determination

Knowing Your Customer When Banking Marijuana & Hemp

CFPB Overdraft Proposal

Archives

see all topics