Business Email Compromise (BEC) Scam
Business Email Compromise is the #2 fraud category by losses in FBI IC3 2024 ($2.77B). Scammers impersonate executives, vendors, or attorneys via email or phone to redirect legitimate business wire transfers to fraudulent accounts.
Reports
$2.77B FBI IC3 losses 2024 (#2)
First documented
2015
Last active
2026-03
⚠ This page documents a reported scam pattern for educational purposes. Sources are cited for all statistics and claims. ZeroScam is not affiliated with the FTC, FBI, or FCC.
What the scam says
Variant 1 (CEO fraud): An email appearing to come from your CEO asks you to wire funds urgently for a confidential acquisition — 'Do not discuss with anyone.' Variant 2 (Vendor fraud): A vendor's email (hacked or spoofed) sends new banking instructions for an upcoming payment. Variant 3: Attorney impersonation for a closing or settlement.
4 red flags
FBI IC3 2024: BEC caused $2.77B in losses — #2 by total dollar amount
Request to change vendor payment banking information via email is the #1 BEC red flag
Urgency and secrecy instructions ('don't tell anyone') are manipulation tactics
The FBI Financial Fraud Kill Chain can freeze funds if reported immediately
What to do
Never change vendor banking information based solely on an email
Verify all wire transfer requests by calling the requester on a known number — not the one in the email
Report to FBI IC3 at ic3.gov IMMEDIATELY — the Financial Fraud Kill Chain can freeze funds within hours
Contact your bank immediately if a wire was already sent
Report this scam
Source
FBI IC3 2024 Annual Report — $2.77B in BEC losses; FTC Consumer Sentinel 2024
https://www.ic3.gov/AnnualReport/Reports/2024_IC3Report.pdf ↗Specific scam messages in this pattern
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Frequently asked questions
What is the Business Email Compromise (BEC) Scam?▼
Business Email Compromise is the #2 fraud category by losses in FBI IC3 2024 ($2.77B). Scammers impersonate executives, vendors, or attorneys via email or phone to redirect legitimate business wire transfers to fraudulent accounts.
How do I recognize a Business Email Compromise (BEC) Scam?▼
Red flags: FBI IC3 2024: BEC caused $2.77B in losses — #2 by total dollar amount; Request to change vendor payment banking information via email is the #1 BEC red flag; Urgency and secrecy instructions ('don't tell anyone') are manipulation tactics.
What should I do if I receive a Business Email Compromise (BEC) Scam?▼
Never change vendor banking information based solely on an email Verify all wire transfer requests by calling the requester on a known number — not the one in the email Report to FBI IC3 at ic3.gov IMMEDIATELY — the Financial Fraud Kill Chain can freeze funds within hours
How common is the Business Email Compromise (BEC) Scam?▼
$2.77B FBI IC3 losses 2024 (#2). First documented: 2015. Source: FBI IC3 2024 Annual Report — $2.77B in BEC losses; FTC Consumer Sentinel 2024.
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Check your message →Source: FBI IC3 2024 Annual Report — $2.77B in BEC losses; FTC Consumer Sentinel 2024
First documented: 2015 · Last active: 2026-03
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