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Cybercriminals steal business information from companies' databases, for example, financial information, personal information, secret project blueprints, other classified information.
Then they use this information to ask for ransom or sell it to competitors. Data fraud can also occur when malware attacks lock companies out of their own systems and are held at ransom.
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A 2020 fraud survey estimated that the total cost of company fraud in the US to be about $7 billion in a year.
Sometimes, employees steal cash or valuable data or use company assets for their benefit. This is considered the misappropriation of company assets.
Fraudsters aim to find weak links and vulnerabilities in your business systems from where they can stage their attack.
Scammers persuade businesses to give them sensitive information or make payments. Then they get access to unauthorised business email accounts, monitor the company's activities and impersonate the stakeholders.
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Important stuff regarding online scams.
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