More than ever, organizations are paying greater attention to business email compromise attacks.
in the real estate sector. Then it slowed down until 2021 when it began making a comeback.
The FBI says based on IC3 victim complaint data that these attacks are still happening. Between 2020 and 2022, there was a 27% increase in real estate-related reports. At the same time, there was more than a 70% increase in victim loss related to real estate. The IC3 suggests that this figure specifically may be tied to the “rise in real estate costs over the last several years.”There are many instances of these attacks happening today.
Fortunately, the attack was halted due to three factors: a flaw in a domain name, behavioral artificial intelligence and an advanced modeling system. While AI may have its detractors, it discovered the signs of fraud, such as confusing wiring instructions or a minor tweak in the sender domain from “.com” to “.cam”—something not everyone may notice. This is why it is so important to closely inspect your emails.
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