Email twice as often as any other infection vector. Businesses More Than $2 BillionCyber criminals are targeting organizations that use popular cloud-based email services to conduct BEC scams. Security Awareness Training Blog. Research carried out by the FBI focusing on the three years leading up to2016, found that BEC was behind $5.3 billion USD in business losses across the world. FBI, This Week: Criminals Put Holiday Spin on Internet-Facilitated Schemes. Business email compromise is a worrying trend that can end up defrauding companies of millions. Be careful with what information you share online or on social media. A Business Email Compromise (BEC) is a form of spear (targeted) phishing that aims to trick employees (generally in finance or HR) into transferring funds into a ‘new’ business bank account (belonging to the cybercriminal) or sharing sensitive information at the request of a cybercriminal impersonating a senior executive. Limiting the number of employees authorized to approve wire transfers and providing additional training to authorized employees. Even now phishing attacks centered around Business Email Compromise (BEC) continue to escalate. Business email compromise is a large and growing problem that targets organizations of all sizes across every industry around the world. This social engineering attack has devastated many organizations in terms of cost and breach of sensitive information. Understanding the different attack vectors for this type of crime is key when it comes to prevention. Public service announcement warning of the dangers of business e-mail compromise scams (BECs). Awareness and training is the first and best step toward preventing an attack on your business. BEC scams involves the compromise of legitimate business and e-mail accounts for the purpose of conducting unauthorized wire transfers. Business email compromise attacks are a common, financially destructive threat type, which will likely become even more of a concern in a post-COVID-19 world. is the next-level mail protection system which secures all your incoming and outgoing comunications. This webinar focuses on what Business Email Compromise is, who the targets are, what the legal implications are, and the practical steps you can take to protect your bank and customers. Cyber criminals have developed a new attack called CEO Fraud, also known as Business Email Compromise (BEC). A user is almost twice as likely to encounter malicious code through email than being impacted by an exploit kit. According to the Federal … Business Email … What is business email compromise? Security awareness training is one of the most effective tools for fighting BEC attacks. Business email compromise guide From sending fake invoices to manipulating employees into wiring them money, hackers have a wide range of business email compromise techniques that they use to defraud companies. Business Email Compromise (BEC) is an intelligent email scam that typically targets employees of companies who regularly send wire transfers to their partners. *source: 2020 Verizon Data Breach Investigations Report Cyber crime is up during the pandemic, and the Consulting team at CI Security has been responding to security incidents that have been impacted by coronavirus in some way or another. Block attacks with a layered solution that protects you against every type of email fraud threat. This will help prevent unauthorized access of e-mails, especially if an attacker attempts … Safeguard business-critical information from data exfiltration, compliance risks and violations. Organized crime groups are mainly responsible, but anybody can commit the fraud. 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