In a bold move to protect global businesses and financial institutions from rising cybercrime, the United States and the European Union have officially signed an agreement to form a Joint Task Force Against Business Email Compromise (BEC) — a landmark step in the fight against one of the world’s most costly digital threats.

The announcement, made in Brussels this week, marks a new era of transatlantic cooperation aimed at dismantling international fraud networks, enhancing cyber-defense systems, and ensuring that BEC scammers are tracked, arrested, and prosecuted swiftly and effectively.

Why BEC Is a Global Threat

Business Email Compromise (BEC) scams have grown into a $50 billion problem worldwide. These scams involve cybercriminals hijacking email accounts — often of CEOs, CFOs, or vendors — to trick employees into sending unauthorized wire transfers or sensitive data.

While the victims are often based in the U.S. or Europe, the attackers operate globally, using encrypted apps, fake domains, and money mules to launder stolen funds across borders.

A Unified Front: What the Task Force Will Do

The new U.S.–EU BEC Task Force will:

• Coordinate intelligence sharing between the FBI, Europol, and national cybercrime units

• Track cross-border money flows linked to fraudulent transfers

• Identify and shut down fraudulent servers, phishing domains, and malware platforms

• Support rapid arrest and extradition of BEC suspects

• Develop shared prevention tools and public awareness campaigns

U.S. Homeland Security Secretary and the European Commissioner for Home Affairs both emphasized the need for “swift, joint responses to a borderless crime.”

“This partnership sends a clear message to cybercriminals: you will be found, you will be stopped, and you will face justice,” said a senior U.S. official at the signing event.

What It Means for Businesses

This agreement is expected to speed up investigations and improve fund recovery for victims in both regions. It also paves the way for standardized reporting systems and greater pressure on banks, payment processors, and crypto exchanges to flag suspicious activity in real-time.

FCEN: Your First Line of Defense

As the international effort grows, the Financial Crime Enforcement Network (FCEN) continues to provide direct support to victims of BEC and other online fraud.

If you’ve been targeted or defrauded by a BEC scam:

1. Stop all communication with the scammer

2. Secure your accounts immediately

3. Visit efincengovs.com and click on the “File a Complaint” button

4. Submit details of the scam — including email headers, transaction records, and suspicious activity

FCEN works alongside global partners to trace stolen funds, freeze fraudulent accounts, and support legal action.

A New Era of Cybersecurity Collaboration

With this task force, the U.S. and EU are not just talking about action — they’re taking it, together. As criminals become more sophisticated, so must the response.

Stronger together, faster recovery, and real accountability — that’s the goal.

To learn more or file a complaint, visit efincengovs.com today.