Businesses, look out. The Internet Crime Complaint Center (IC3) is reporting a new scam that could cost you thousands of dollars. The scam has been referred to as the “man in the email” scam, or more recently, the “business email compromise.”
The email claims to be from a vendor, who requests a wire transfer to a designated bank account. The scammers use an email address that resembles a legitimate one, with very small changes that are hard to spot.
The average loss per victim is arround $55,000, but the IC3 reports some victims were taken for more than $800,000.
IC3 believes the scam may be based in Nigeria. According to the IC3, the scam is more likely to affect businesses in the U.S., England or Canada; businesses that often trade internationally; and businesses that conduct wire transfers for large amounts.