Business email compromise (BEC) attacks are all the rage and on the rise. But it doesn’t necessarily require a full-blown BEC attack to scam an organization out of money. Sometimes all it takes is an old-fashioned spoofed email address.
The FBI recently warned that BEC attacks worldwide have racked up some $3 billion in victim losses, with the average loss at $140,000 per incident. BEC attacks – where cybercriminals get control of a business executive’s email account credentials and use the account to steal money from the victim organization – are increasing, as are similar but more simplistic attacks that spoof executives’ email accounts.
