The operation has resulted in 42 arrests in the United States, 29 in Nigeria, and three in Canada, Mauritius and Poland.
Considering the size and scope of the BEC epidemic worldwide, however, Litan says, "it's great to get breadcrumbs, but maybe next time they get the loaf".
Domestically, the Feds said they teamed up with the Department of Homeland Security, the Department of the Treasury and the US Postal Inspection Service in a six-month program which began in January and resulted in a fortnight of "law enforcement activity".
Law officials warn that BEC scams may involve fraudulent requests for checks rather than wire transfers.
The alleged email scammers, spread across seven countries, would target midsize businesses, looking to trick employees who had access to company finances. The scams sometimes target personally identifiable information or employee tax records rather than money, officials note.
A number of the cases that resulted in arrests involved global criminal organizations that defrauded small to large-sized businesses, while others involved individual victims who transferred large amounts of money or sensitive records in the course of business, according to the Justice Department.
"Foreign citizens perpetrate many BEC scams".
According to the statement, the same criminal organisations that perpetrate BEC also exploit individual victims, often real estate purchasers, the elderly, and others, by convincing them to make wire transfers to bank accounts controlled by the criminals.
Separate research by Proofpoint released in February claimed that by the end of 2017, almost 89% of all organizations studied were targeted by at least one BEC attack - a large jump from the 75% targeted in Q4 2016.
It culminated in more than two weeks of intensified law enforcement activity resulting in 73 arrests in the USA and overseas, primarily in Nigeria, and the recovery or seizure of about $6 million. However, these various cyber-fraud schemes result in billions of lost dollars, and it seems unlikely that a big dent can be made in catching all the perpetrators.
If you believe you've fallen victim to a scam, you can report it to the Federal Bureau of Investigation here.
The FBI said the suspects aimed at intercepting and hijacking cash transfers from businesses and individuals, including many senior citizens.