How an email stole $128 million from Australian businesses
False billing scams were the most common scam reported by small businesses, with this scam making up three quarters of all losses to businesses.
But it was a specific type of fake billing scam, called payment redirection scams or business email compromise scams, that hit small businesses hardest.
In these scams, the cyber-criminal will pretend to be a business or an employee and request an upcoming payment to be directed to a fraudulent bank account.
These scams have resulted in $14 million in losses and…