Business email compromise attacks have skyrocketed over the last few years. Hackers use this strategy to target corporate or publicly available email accounts of executives or high-level employees. The attackers attempt to receive financial gain through phishing and pharming attacks, or by using keyloggers to perform fraudulent wire transfers. This can result in a significant loss for businesses.
In 2016, business email compromise attacks led to an average of $140,000 in losses per company. With cybercrime at an all-time high and cyber-criminals targeting more businesses than ever before, it’s important to familiarize yourself with the signs of business email compromise attacks.
Now that you know the risks and signs of business email compromise attacks, it’s important to keep your company safe. Ensure that all employees are educated on what a BEC attack is, recent cyber attacks, and what to look out for. Install antivirus systems throughout all company computers and be sure to keep systems up-to-date.