The FBI has issued an industry alert warning of rapidly emerging advance fee and business email compromise (BEC) schemes related to procurement of personal protective equipment (PPE) and other equipment in short supply during the current COVID-19 pandemic. The FBI recently became aware of multiple incidents of government agencies, attempting to procure such equipment, wiring transferred funds to fraudulent sellers in advance of receiving the items. In one case, an individual claimed to represent an entity with which the purchasing agency had an existing business relationship. By the time the purchasing agencies became suspicious of the transactions, much of the funds had been transferred outside the reach of U.S. law enforcement and were unrecoverable. The alert provides further descriptions of this type of fraudulent activity, includes a series of warning signs of potential illegitimate activity, and offers a list of mitigation recommendations. Read the Alert at the FBI.