The FBI is alerting New Mexico businesses, school districts, and government agencies to be on the lookout for business email compromise (BEC) scams, which so far has cost more than $1 million in the state.
A New Mexico county recently lost approximately $500,000 in a BEC fraud, while a small private school system in the state avoided being scammed out of more than $55,000 through quick action by employees.
So far in 2021 (January-June), 29 BEC incidents were reported in New Mexico with a loss of $1,025,317.
In a typical business email compromise (BEC) scheme, the victim receives an email they believe is from a company they normally conduct business with, but this specific email requests funds be sent to a new account or otherwise alters the standard payment practices.
“Businesses, government agencies, and schools have been through a difficult year, and many are still trying to get back on their feet,” said…