In today’s digital world, email remains one of the primary ways we communicate in business. However, it’s also become a favored target for cybercriminals. One of the most damaging threats businesses face is Business Email Compromise (BEC), where attackers use fake emails to trick employees into transferring funds, sharing sensitive information, or even giving away company secrets.
In this post, we’ll explore what BEC is, how it works, and what you can do to protect your business from falling victim to this costly scam. And to learn more about advanced strategies for defending your business, don’t miss our upcoming Cyber Defense Webinar on November 20th, 2024 at 11am MST featuring cybersecurity expert Ben Bernstein.
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What is Business Email Compromise (BEC)?
BEC is a type of phishing attack in which cybercriminals impersonate executives, partners, or other trusted figures to manipulate employees. It’s highly targeted and often well-researched, making it one of the most successful forms of cyberattacks. BEC attacks have cost businesses billions globally, and they’re only growing more sophisticated.
These attacks can take many forms:
- Fake Invoice Requests: An attacker impersonates a vendor or supplier and sends a fake invoice, hoping it will be paid without question.
- CEO Fraud: Posing as a company executive, the attacker asks an employee to transfer money or sensitive information.
- Account Compromise: Hackers gain access to a legitimate business email account and use it to defraud partners or customers.
BEC is challenging to detect because it often uses real email accounts or looks highly credible, which makes employee training and advanced security solutions critical.
How to Protect Your Business from BEC
While BEC can be devastating, there are steps you can take to minimize the risk:
- Invest in Identity Threat Detection and Response (ITDR): ITDR solutions can help detect unusual login patterns, unauthorized email access, and other indicators of compromised accounts.
- Use Multi-Factor Authentication (MFA): Adding an extra layer of security makes it more difficult for attackers to access email accounts.
- Educate Your Team: Employees are the first line of defense. Make sure they know how to recognize phishing attempts, verify requests, and question anything that looks suspicious.
- Implement Strong Email Security: Email security tools can help detect and block suspicious emails before they reach employees’ inboxes.
Learn More at Our Cyber Defense Webinar
Want to dive deeper into how to protect your business from BEC and other cyber threats? Join our Cyber Defense Webinar on November 20th, 2024 at 11am MST featuring cybersecurity expert Ben Bernstein from Huntress. Ben will discuss proactive defense strategies, including how Managed Detection and Response (MDR) and Identity Threat Detection and Response (ITDR) work together to secure your organization.
In this session, you’ll learn:
- How MDR provides real-time monitoring to detect threats before they cause damage
- Why ITDR is essential for protecting sensitive data from identity-based attacks like BEC
- Practical steps to strengthen your business’s email security and stop cybercriminals in their tracks
Don’t miss this chance to learn from an industry expert and gain the knowledge you need to keep your business secure. Spots are limited, so be sure to register today!
👉 Register for the Cyber Defense Webinar
Business Email Compromise is a serious threat, but with the right tools, knowledge, and strategies, your business can stay safe. Join us on November 20th, 2024 at 11am MST to learn more about defending your organization from BEC and other cyber risks. See you there!
How i.t.NOW Can Help
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