With the increasing dependence on email, there is an increasing threat from Business Email Compromise (BEC). Business Email Compromise (BEC) is a type of scam in which criminals use email fraud to target victims. They especially target those who perform wire transfer payments or have access to monetary funds.
BEC attacks are usually well-crafted and sophisticated. The attacker first researches the target organization and its employees. They gain knowledge about the company’s operations, suppliers, customers, and business partners. Once the attacker has enough information, they can craft a convincing email designed to appear to come from a high-level executive or a business partner.
The email requests the recipient to make a payment or transfer funds. The email often contains a sense of urgency to compel the recipient to act. The attacker may also use tactics such as posing as a trusted contact or creating a fake website that mimics the company's site to make the attack seem more legitimate.
Employee education and implementing email authentication protocols are the key defenses against BEC attacks. Contact us to learn more or to add security protections to your email.
Article used with permission from The Technology Press.