There were more than 78K business email account (BEC) and email account compromise (EAC) scam incidents worldwide between October 2013 and May .

New FBI data shows that business email compromise (BEC) and email account compromise (EAC) scam losses worldwide spiked 136% from December 2016 to May 2018.

There were 78,617 BEC/EAC incidents reported between October 2013 and May 2018, resulting in $12 billion in losses. Of those incidents, 41,058 were in the US, resulting in $2.9 billion in losses. China and Hong Kong banks led the locations for receipt of fraudulent funds, while the UK, , and Turkey are emerging regions, the FBI report shows.

“The scam may not always be associated with a request for transfer of funds. A variation of the scam involves compromising legitimate business e-mail and requesting Personally Identifiable Information (PII) or Wage and Tax Statement (W-2) forms for employees,” the FBI said in its public service announcement reporting the latest statistics.

The real estate industry is the new hot target: from 2015 to 2017, there was an increase of 1,100% of BEC/EAC victims in that sector.

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