Secret Service Confirms Focus on Email Compromise Cybercrimes Worth $12 Billion

Following the discovery of multiple explosive packages sent to former US presidents Clinton and Obama, some top Democratic figures, as well as a number of Trump critics during last week, the U.S. Secret Service also detailed its role in fighting cybercrime during the "Inside the Business of Cybercrime" forum.

"The Secret Service focuses on financially motivated cyber criminals," as detailed by Secret Service Assistant to the Special Agent in Charge (ATSAIC) Matthew O’Neill.

"In particular, we are focused on the business email compromise totaling roughly $12 billion in the past few years – U.S. funds going overseas through the compromise of business emails and personal email accounts."

As reported by the Federal Bureau of Investigation (FBI) on July 12, the exposed dollar loss reached a staggering $12,536,948,299 between October 2013 and May 2018, with 41,058 US victims and 2,565 non-US in total.

Furthermore... (read more)

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