Author: Lucas Michelen

Lucas Michelen counsels clients in responding to cybersecurity and data breach events, and also assists clients with internal and government investigations, with a focus on cybersecurity issues. View Lucas's full bio on the Faegre Drinker website.

Recent FinCEN Advisory Details Dramatic Increase in Frequency and Severity of Business Email Compromise Fraud Schemes

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On July 16, 2019, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) issued an “Updated Advisory on Email Compromise Fraud Schemes Targeting Vulnerable Business Processes” (the “Advisory”). The Advisory provides a detailed and helpful overview of trends in Business Email Compromise (“BEC”) schemes affecting U.S. financial institutions and other businesses.

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