Cybercriminals are intercepting emails between companies and their clients, deceiving customers out of life-changing sums of money and severely damaging the reputation of the organisation.
Targeted companies range from solicitors and conveyancers, to builders and traders.
In January this year, a charity worker buying his first home had his £67,000 life savings stolen after fraudsters hacked into emails sent between him and his conveyancing solicitor. Last year a London couple transferred over £25,000 to a fraudster posing as their builder after receiving a genuine-looking invoice, for an amount they were expecting, from a copycat email address. Read more