Fraud Alert Issued on Business Email Compromise Scam and CryptoWall ransomware fraud.

Connectikpeople.co recalls that, the Financial Services Information Sharing and Analysis Center (FS-ISAC) and federal law enforcement agencies have released a joint alert warning companies of a sophisticated wire payment scam referred to as business email compromise (BEC). Scammers use fraudulent information to trick companies into directing financial transactions into accounts scammers control.  

Users and administrators are encouraged to review the BEC Joint Report for details and refer to the US-CERT Tip ST04-014 for information on social engineering and phishing attacks.

Connectikpeople.co also recalls that, the Internet Crime Complaint Center (IC3) has issued an alert warning that U.S. individuals and businesses are still at risk of CryptoWall ransomware fraud. Scam operators use ransomware, a type of malicious software to infect a device and restrict access until a ransom fee is paid­­. Individuals and organizations are discouraged from paying the ransom, as this does not guarantee files will be released.

So, Connectikpeople.co encourages users and administrators to review the IC3 Alert for details and refer to the US-CERT Alert TA-295A for information on crypto ransomware.