Business email compromise attacks increased five-fold in the last year.

Business email compromised (BEC) attacks have seen an explosive 476% growth between Q4 2017 and Q4 2018, while the number of email fraud attempts against companies increased 226% QoQ. BEC attacks use social engineering to target specific company employees, regularly from the firm’s Finance department, and try to persuade them into wiring large sums of money to third-party banking accounts controlled by the attackers.

Source: Bleeping Computer