Business email compromise (BEC) attacks are becoming widespread and present a significant risk to businesses of all sizes. These attacks involve hackers posing as trusted individuals or organizations via email to request sensitive information or financial transfers.
BEC attacks often target high-level employees, such as executives or financial managers, and can be highly sophisticated. Attackers may go to great lengths to make their emails appear authentic, including using genuine email addresses and logos. In some cases, they may even gain access to an employee’s email account to send BEC emails to other employees or partners.
In BEC attacks, a common technique is the “man-in-the-middle” approach, where the attacker poses as a trusted third party, such as a supplier or vendor, and requests payment or sensitive information. These attacks can be challenging to detect because the attacker may use genuine email addresses and logos to seem legitimate. The attacker manipulates the victim into thinking they are communicating with a trusted party, which can lead to them divulging sensitive information or making financial transfers to the attacker.
To safeguard your business from BEC attacks, it is essential to implement strong email security measures and educate your employees on the signs of such an attack. Two-factor authentication and monitoring for unusual activity can help protect your business. Employees should also be aware of red flags, such as requests for sensitive information or financial transfers from unknown individuals or organizations, or requests to transfer money to unfamiliar bank accounts.
If you receive a suspicious email, do not click on any links or download any attachments. Instead, verify the request through a separate, secure channel, such as a phone call to the sender using a number you know to be valid.
Business email compromise attacks are a rapidly growing threat to businesses of all sizes. By taking proactive steps to secure your email communications and staying vigilant, you can help protect your business from costly and damaging BEC attacks.