Business Email Compromise Fraud

The Royal Gibraltar Police has recently received reports of Business Email Compromise (BEC) fraud which targets, not just companies, but charities too.

This is a type of scam which targets companies, charities and even individuals who conduct bank transfers and possess corporate or publicly available email accounts of executives or high-level employees related to finance, or involved with bank transfer payments. These email accounts can be spoofed.
This means emails are sent to look like legitimate email accounts but often use deception to fool the recipient e.g. using a ‘vv’ instead of a ‘w’ in the address. Emails can also be compromised through key loggers that enter a person’s device through a virus which can be done when a link or attachment is clicked on from an email sent by the fraudsters.