Case study Phishing for funds A business email compromise scam tricks law firm into transferring money to fraudsters Social engineering involves the use of deception to manipulate individuals into carrying out a particular act, such as transferring money, handing over confidential information, or clicking on a malicious link, and it’s causing serious financial harm to businesses around the world. According to the FBI, between October 2013 and May 2018 alone, some $12.5 billion was lost worldwide due to funds being transferred following a type of social engineering scam known as business e-mail compromise (BEC). And any business that transfers funds electronically can be susceptible to losses of this nature. One of our policyholders affected by a business email compromise scam

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