Cybercrimes are a constant threat as criminals seek to take advantage of online users. The COVID-19 pandemic is no...
What is BAC/EAC Fraud?Cyber Crimes
BEC stands for “Business Email Compromise” and EAC stands for “E-mail Account Compromise”. BEC is a sophisticated scam targeting businesses that regularly perform wire transfer payments or ones that work with foreign suppliers or businesses . EAC targets individuals that perform wire transfer payments. BEC/EAC is mostly about tricking employees or business owners to wire funds to the wrong account (the one owned by the thieves).
BEC/EAC Fraud is one of the most expensive methods of how people are defrauded in the U.S and worldwide. You can read more about BEC/EAC fraud here.