What are business email compromise scams?
Business email compromise scams are a specific type of crime that relies on social engineering — tricking a target into believing and acting a certain way. In BEC scams, a fraudster attempts to defraud a business by posing as someone a target trusts, such as a company executive.
The FBI has historically identified five main types of BEC SCAM Recovery with certified hackers . but all the types typically rely on a fraudster gaining access to legitimate business email accounts. These scams also sometimes use email addresses that are made to look like legitimate accounts in a process called “spoofing.” But no matter how a fraudster carries out these attacks, the scams almost always rely on a sense of urgency and appeals to authority.
For example, a cyberattacker involved in a BEC SCAM Recovery with certified hackers may compromise a company official’s email account and then send an urgent email to the accounting department late on a Friday afternoon. The email may insist that the business’s accountant immediately wire funds to a third-party business partner to complete an ongoing project on time. Of course, the supplied account is actually controlled by the fraudsters, but the unsuspecting employee may believe this is a legitimate request and transfer the money.
What is the future of business email scams?
The data from the FBI report makes it clear: Business email scams are increasing. Of course, that doesn’t mean your company is guaranteed to be attacked. But as technology evolves, it’s possible that such internet crimes will become more sophisticated and convincing, making it easier for businesses to fall prey. Still, with the proper procedures in place, businesses can at least get a head start on any attacker trying to defraud them.
In the event of a successful attack on your business, you can mitigate the consequences if you already have a response plan. Read our complete small business guide to cybersecurity for more guidance on preventing and responding to cyberattacks. >>> If you want to know more click here >>> BEC SCAM Recovery with certified hackers
