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E-Mail Impersonation Scams Costing Billions, AICPA Warns

The FBI estimates that “business e-mail compromise” scams cost companies $3.1B globally. A new AICPA report warns accountants who work with foreign suppliers and execute wire transfers to foreign banks about the pitfalls of trusting e-mails that are designed to look as though they are sent from company executives.

In light of the AICPA report, Bloomberg BNA asked StoneTurn’s Simon Platt to comment on the importance of policies and compliance programs to train employees on how to appropriately respond.

Read the full article: “Email Impersonation Scams Costing Billions, AICPA Warns.”