The business email compromise (BEC) is a phishing scam in which the bad guy uses deceptive emails to trick accounting personnel into misdirecting money. The FBI calls BEC a $5 Billion scam.
It is now being reported that Lazio, an Italian professional soccer club, lost €2 million to phishers.
The phishers sent an email to Lazio which demanded payment of a player transfer fee to Feyenoord, another professional soccer club. Unknown to the victims, the bank to which they sent the money was not Feyenoord’s bank account.