Silver Terrier – Nigerian Business Email Compromise
Summary: Unit 42 reports that business email compromise held the top spot on the FBI IC3 annual report for the fifth straight year in 2020, with global losses rising from $360 million in 2016 to $1.8 billion in 2020 and combined 2018-2020 losses estimated above $4.93 billion. Its tracking of Nigerian actors under the name SilverTerrier covers more than 170,700 malware samples from over 2.26 million phishing attacks linked to roughly 540 distinct clusters of BEC activity.
Bottom line: Annual BEC losses now exceed the GDP of 24 countries, and losses grew 29% last year to an average of $96,372 per victim - a per-incident figure that lands on a single finance or accounts-payable workflow, not on an IT budget line.
Read the original at Unit 42 Palo Alto Networks ↗
- Topics
- Phishing & Social Engineering
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