Despite drop in cyber claims, BEC keeps going strong

Ransomware claims stabilized in 2024 despite remaining the most costly and disruptive type of cyberattack, according to Coalition. 60% of 2024 claims originated from BEC and funds transfer fraud (FTF) incidents, with 29% of BEC events resulting in FTF. BEC claims severity increased 23% year-over-year (YoY) to an average loss of $35,000, primarily driven by a spike in the latter half of 2024. FTF claims frequency decreased 2% YoY in 2024 to 0.44% and has … More → The post Despite drop in cyber claims, BEC keeps going strong appeared first on Help Net Security.
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