Since 2013, the FBI has led the charge against Business Email Compromise (BEC) and money mule threat actors and remains on the forefront of tackling these crimes. The FBI states it will proudly continue to lead the U.S. Government’s efforts to combat these threats by educating employees, the public, and private and public sector partners.
In their latest report to Congress, the FBI reported the Uniform Commercial Code (UCC) 4A-207 Misdescription of Beneficiary states:
If the beneficiary’s bank does not know that the name and number refer to different persons, it may rely on the number
