Business Email Compromise BEC Attacks

Read our complete small business guide to cybersecurity for more guidance on preventing and responding to cyberattacks. This article is for business owners who want to learn about business email compromise scams and how to prevent or fight them. As a business owner, you can take proactive steps to prevent your company from being targeted by this kind of cyberattack. A compromised email is an address that has been accessed by cybercriminals. If you suspect your email address has been compromised, we recommend you change your password immediately and also activate two-factor authentication . After establishing trust, hackers request funds or sensitive data. Criminals usually learn how a company works and pore over their transactions.

• The larger this footprint is, the easier it becomes for the malicious actors to use this information and, in turn, attempt a successful BEC attack.
• They may pose as a high-ranking executive, vendor, or legal representative to trick employees into complying with their requests.
• With an additional proprietary feature, we can prevent spoofing for any configured domain when the sender is originating from outside.
• Review your organization’s security protocols and make sure they are up to date.
• Research from the FBI’s Internet Crime Complaint Centre estimates that BEC scams accounted for $1.8B in losses in 2020.
• If a BEC email is received, report the scam to the security team and don’t respond to the sender.

Fixed wireless networking refers to the operation of wireless devices in fixed locations such as homes and offices. An attorney’s email identity might be used to pressure the target for immediate payment. By clicking ‘Continue’, you will leave our website and enter a site specific to making your loan payment via a debit card or electronic check. In the event of a lost or stolen card, contact us anytime day or night to avoid fraud. The company’s products have been developed with the ongoing input of IT professionals who demand reliable, affordable software that requires minimal effort to manage. The percentage of organizations experiencing BEC has risen to 75%.

How the Most Significant BEC Attacks Unfolded

OVERVIEW How Vendor Email Compromise and Invoice Fraud Works Vendor Email Compromise is a refined attack that builds upon BEC techniques to defraud organizations. This blog will detail how a standard VEC attack works along with tips to contain their impact. Moving to a remote business model has accelerated cloud email adoption, enabling organizations to simplify email delivery and reduce the need for Secure Email Gateways . With the growing popularity of remote work, it’s also essential to create your own authentication means when none exists. If you receive a suspicious email from a familiar vendor asking for an invoice to be urgently fulfilled, call the vendor to confirm that they sent the email. A few extra seconds of caution can help prevent lots of strife later on.

Both human and tech-related elements should factor into an organization’s security approach. The people within the organization have to understand the types of cyber attacks they’re likely to face, and advanced email security systems are necessary to help identify and stop potential threats. The execution of the attack can involve a single email enticing the receiving party to click or engage with the sender. Failure to do so may allow for the malicious actors to continue their attacks on the business or other parties.

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Secure company funds with at least a two-step verification process for all wire transfers and transactions. Creating an approval process protects you from external and internal fraud attempts. Fraudsters pose as individuals within your organization by creating email accounts with similar domains and email addresses. The sender account may be one or two letters off from the actual account, designed to slide through inboxes without even a second thought. For example, if a fraudster is trying to impersonate, CEO Jane Smith of XYZ Investment, they may create an email such as or , instead of her actual email of Consider registering website domains that are similar to your own. Even though you’re not actively using them, it may prevent the domain from being used by a fraudster in the future. It takes time and effort to launch a successful Business Email Compromise attack.

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Why is business email compromise (BEC) protection important?

The cyber criminal later uses this data as part of a wider BEC or cyber attack against the company. Dynamically detect and block Business Email Compromise attacks with effective email filtering and analysis of sender domains.

Mesh analyzes email content, language, tone and cadence, combined with checks against the sending domain, display name, and username, for matches and/or similarities with the recipient organization. The attacker has impersonated a high-ranking executive who has the authority to make such a request.

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Educating your employees is one of the best defenses against BEC/EAC attacks. Ensure there are no changes in the configuration of your employees’ accounts. Also, check your company’s transaction history for odd transfers, and conduct regular security audits.

In particular, smaller businesses faced more BEC attacks than large organisations because of their especially fragile security posture. Business email compromise attacks are a sophisticated IT security threat involving a blend of social engineering and hacking. Unfortunately, BEC scams are a highly effective method of extortion and network access, meaning senior business leaders must know how to combat them. Consider employing a dedicated cybersecurity professional or offering to fund cybersecurity training for interested IT employees. Many of the best information security certifications include education on BEC scams and how to secure businesses against them. To help you avoid falling victim to them, we’ve put together this primer on BEC attacks, how you can prevent them, and what to do if your company has been successfully targeted. While some types of internet crime have fallen in recent years, business email compromise scams increased in both the number of victims impacted and the total victim loss.