Just like every other business person, today’s hacker is looking for opportunities that deliver maximum profits for minimum investments. Business Email Commerce (BEC) gives them exactly that.
Also known as CEO Fraud, this is a relatively new type of scam that brings fast results and can be highly lucrative if your defenses are down. Instead of wasting time sending phishing emails to random email addresses, cyber criminals are now doing their research to get to the goodies more quickly. They use social engineering tools to
carefully select their next targets, impersonating key staff members or trusted partners to trick their victims into transferring funds online. If they’re successful, they’ve then got unrestricted access to a wealth of information that can lead to massive financial losses and embarrassment.
Here’s how to stay connected and minimise the risk.