Cybercrime on the Rise: BEC Scams and Virtual Currencies Pose Major Threats

Combating Cybercrime in [Country]

In an effort to combat the growing threat of cybercrime, authorities in [country] are working together to tackle the issue. A recent report reveals that business email compromise (BEC) scams are on the rise, with losses totaling up to €120,000 per case.

BEC Scams: The Growing Threat

According to the Ministry of Interior’s Computer Crime and Digital Forensics Sector, BEC cases have increased significantly in recent years. Most reported cases are detected by victims themselves rather than financial institutions. The sector confirms that it usually contacts banks immediately to postpone transactions when a BEC case is reported, and also informs the prosecutor who leads the criminal investigation.

Indicators of Fraud

• IBAN changes
• Transaction timing
• Suspicious delays in regular inbound transactions
• Combination of account age, origin, and type of business

Underreported Cases

Attempted BEC transactions are often underreported by banks and victims alike. This highlights the need for increased awareness and vigilance to combat this growing threat.

Other Forms of Cybercrime

Other forms of cybercrime identified include:

• Use of remittance services to pay for stolen goods
• Sale of virtual currencies
• Notable cases: a suspect was able to buy a new apartment and house using virtual currency after his initial assets were confiscated.

Authorities’ Response

The National Bank has established an IT Supervision Department to enforce cybersecurity standards in the banking sector. The department has developed indicators for detecting online fraud and is working with banks to implement a risk-based approach to prevent cybercrime.

Key Statistics

• BEC cases have increased by [percentage] in recent years
• Losses from BEC scams can range up to €120,000 per case
• The majority of BEC cases are reported by victims themselves rather than financial institutions
• Remittance services are often used to pay for stolen goods
• Virtual currencies are not specifically prohibited but pose a significant threat

Call to Action

Despite these efforts, it is clear that more needs to be done to combat the growing threat of cybercrime. Authorities are urging individuals and businesses to remain vigilant and report any suspicious activity to the authorities immediately.

Remember: staying informed is key in this fight against cybercrime. By staying aware of the latest tactics and indicators, we can work together to prevent these crimes from occurring.