I could not believe the scale of Whaling, or business email compromise, the name for a simplistic scam that tricks busy execs into approving large sums of money.
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Whaling, or Business Email Compromise, has exploded in popularity shown by the massive sums that Whalers are raking in. Whaling, as opposed to phishing, tends to target senior executives The US Federal Bureau of Investigation (FBI) has reported the continuing explosion of Business Email Compromise (BEC) attacks as the practice becomes a US$ 5 billion (£3.86 billion) business. Between October 2013 and 2016 the total international reported loss from such scams is US$ 5,302,890,449 (£4,100 million), with US bodies taking up nearly US$ 1.6 billion (£1.24 billion) of that number.
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