Free Dec. 17 webinar examines Business Email Compromise scam Posted by AVCU on 10:19 AM

CUNA and the Financial Services Information Sharing and Analysis Center (FS-ISAC) will conduct a free webinar for CUNA members Dec. 17 designed to provide information on how credit unions can protect themselves from Business Email Compromise (BEC) scams. The webinar is scheduled for 3 to 4 p.m. (ET).

BEC scams target both individuals and businesses that perform wire transfers or other types of electronic fund transfers. Scammers use information available electronically to develop a profile on a company and staff, and eventually target specific individuals with what appears to be a legitimate business transaction.

However, the wire transfer is sent to an account controlled by the scammers, who then take the funds and disappear.

The FBI has been tracking these scams since they emerged in 2001, and have found organizations targeted in every U.S. state and more than 100 countries. Since January 2015, there has been a 1,300 percent increase in identified exposed losses, now totaling over $3 billion.”

Registration is currently open for the live version of the webinar. Those who register to watch live automatically receive access to the recorded version, others can register separately for just the recorded version, which will be available after the conclusion of the live event.