Success story: The CAFC and United States Secret Service freeze $58,000

On October 24, 2022 the Canadian Anti-Fraud Centre and the United States Secret Service (USSS) along with a financial institution were able to freeze a $58,000 fraudulent transfer. As of October 31, 2022, the CAFC assisted victims in recovering over $2,400,000 this year.

The funds were frozen after a business reported to the CAFC that they were a victim of a spear phishing incident. As a result, the business is well positioned to recover their funds.

Spear phishing is one of the most common and most dangerous attack methods currently used to conduct fraud, usually on businesses and organizations. Fraudsters take their time to collect information on their intended targets, so they can send convincing emails seemingly from a trusted source.

Fraudsters will infiltrate or spoof a business or individual email account. They create a rule to send copies of incoming emails forwarded to one of their own accounts. They comb through these emails to:

How to protect yourself

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