Because BEC attacks rely on social engineering, traditional security software doesn’t always protect against them
Business Email Compromise (BEC) is a fast-growing cybersecurity threat that all businesses, especially small and medium-sized (SMB) ones, face. The FBI’s Internet Crime Complaint Center (IC3) reported in their 2020 Internet Crime Report that they fielded 19,369 Business Email Compromise (BEC) complaints amounting to over $1.8 billion in adjusted losses in the United States for that year.
BEC attacks primarily use email, but can be carried out using SMS messages, voice mail messages, and even phone calls. BEC attacks are notable because they rely heavily on so-called “social engineering” techniques, meaning they use trickery and deception against people.BEC attacks can be very effective and anyone can fall victim to them, no matter how rich or sophisticated. In February 2020, Barbara Corcoran — the American businesswoman, investor and judge of the television entrepreneurial reality show “Shark Tank” — nearly lost almost $400,000 in a BEC scam. Luckily, fast action enabled her to recover the money. But FBI statistics show that not everyone is so lucky.
Because BEC attacks rely so heavily on social engineering, traditional security software doesn’t always protect against them. That means you and your employees play a major role in protecting against them — and why it’s important to understand what BEC attacks are and how they work.
How BE ..
Support the originator by clicking the read the rest link below.
