South Australian woman loses $813,000 to business email compromise scam in May 2023, with $300,000 converted to cryptocurrency.
A South Australian woman lost over $813,000 in May 2023 due to a business email compromise scam, where cybercriminals impersonated her conveyancer using a similar email address. She transferred funds to a fraudulent account, believing it was legitimate. Authorities recovered $777,000 in March, but about $300,000 was converted to cryptocurrency. The Australian Cyber Security Centre reported nearly $80 million in self-reported BEC losses in 2022-2023, urging the use of multi-factor authentication for security.
October 01, 2024
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