HealthCareInfoSecurity.com reported that “Total losses tied to business email compromise theft domestically and internationally totaled $43.3 billion from June 2016 through December 2021, according to the most recent FBI Internet Crime Complaint Center annual report (https://www.ic3.gov/Media/PDF/AnnualReport/2021_IC3Report.pdf).” The November 19, 2022 report entitled ” DOJ Charges 10 With BEC Targeting Federal Health Program” (https://www.healthcareinfosecurity.com/doj-charges-10-bec-targeting-federal-health-program-a-20515?rf=2022-11-22_ENEWS_SUB_HIS__Slot9_ART20515&mkt_tok=MDUxLVpYSS0yMzcAAAGIPyW8soorxLIPON-V9kcfg5ZX5O-nNQmVGGS3K2eWUSYpmY1tT4Ry0aA7-wEf-9F543HvLH5oewe2iZJpliZ7llnb4bd9oJ57Kh1jZup2Om5COdMApQ) included these comments about recent BEC targeted at healthcare:
The U.S. Department of Justice on Friday charged 10 individuals with using business email compromise and money laundering schemes to target public and private insurers.
These schemes targeted Medicare, state Medicaid programs, private health insurers and numerous other victims, resulting in more than $11.1 million in total losses.
The charges stem from BEC schemes in which these individuals allegedly posed as business partners to fraudulently divert money from victims’ bank accounts into accounts they or co-conspirators controlled, the DOJ says.
The end of BEC is clearly not in sight!