Effect of business email compromise and romance scams

Electronic fraud involves the use of deception to obtain funds from individuals and entities.
via
Suggestion
Via
electronic means. There have been an upsurge in the incidence of electronic fraud arising from business email compromise and romance scams. Business email compromise occurs when the official emails of
executive
Suggestion
an executive
the executive
or an employee of a corporation is taken over via phishing tools.
it
Suggestion
It
could be as
result
Suggestion
a result
the result
of theft of the log
on
Suggestion
in
details.
when
Suggestion
When
this
happens, the fraudsters
then
send payment instructions as if they were genuine.
This
could result in losses amounting to millions of dollars for a corporation. Romance scams target the old and lonely. The scammers get information about their targets via social media platforms. In some instance, the scammers work in groups and pass on the victims. From the foregoing, these fraud schemes can be mitigated via awareness and ensuring that the perpetrators face the maximum justice available for these crimes.
Also
, corporations should invest more in implementing information security softwares within their systems to help prevent the fraudulent take over of business emails.

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