You are here

FBI Warns about COVID-19 BEC and Money Mules Schemes

FBI Warns about COVID-19 BEC and Money Mules Schemes

Created: Tuesday, April 7, 2020 - 14:17
Categories:
Cyber Security

The FBI has published two advisories warning about two types of cyber crime seeking to leverage the ongoing COVID-19 pandemic: business email compromise (BEC) and money mule schemes. Business email compromise (BEC) is a scam that targets anyone who performs legitimate funds transfers. The FBI observes that recently there has been an increase in BEC frauds targeting municipalities purchasing personal protective equipment or other supplies needed in the fight against COVID-19. In the other type of scheme, criminals scam other people, known as money mules, into moving and hiding money they have obtained illegally. Acting as a money mule – allowing others to use your bank account, or conducting financial transactions on behalf of others – not only jeopardizes your financial security and compromises your personally identifiable information, but is also a crime. Both advisories provide advice on how to avoid becoming involved in these schemes. Access the BEC advisory and the money mule advisory at the FBI.