The Big Email Scam

Globally, email spam cons cost businesses nearly US$20 billion (£17 billion) every year. Six out of ten mid-sized business in the UK were victims of fraud in 2020, suffering average losses of £245,000.

Targets are normally chosen based on their rank, age or social status. 

Fraudsters are using spam bots to engage with victims who respond to the initial hook email. The bot uses recent information from LinkedIn and other social media platforms to gain the victim’s trust and lure them into giving valuable information or transferring money.