COVID-related attacks increased 436% between the second and third weeks of March 2020, with an average 173% week-over-week increase during the quarter, according to Abnormal Security.
A trend toward payment fraud
There has also been a shift from individual to group BEC attacks, with campaigns with more than 10 recipients up 27% compared to Q4 2019. Attackers also adjusted their targets, with attacks on finance employees increasing more than 75% as attacks on C-Suite executives decreased by 37%. This illustrates a trend away from paycheck and engagement fraud and toward payment fraud, specifically invoice fraud attacks, which increased more than 75%.