{"id":32114,"date":"2023-08-08T13:14:41","date_gmt":"2023-08-08T13:14:41","guid":{"rendered":"https:\/\/grapevinemsp.com\/?p=32114"},"modified":"2023-08-18T14:43:03","modified_gmt":"2023-08-18T14:43:03","slug":"business-email-compromise-is-on-the-rise-heres-how-to-fight-it","status":"publish","type":"post","link":"https:\/\/grapevinemsp.com\/business-email-compromise-is-on-the-rise-heres-how-to-fight-it\/","title":{"rendered":"Business Email Compromise is On the Rise: Here\u2019s How to Fight it"},"content":{"rendered":"

How To Fight the Rise in Business Email Compromise<\/h1>\n

Almost all of us still rely on email in our personal and working lives, which is one key reason why it is used as an attack channel by cyber threats. Cyber criminals are increasingly using malicious emails to attack and exploit businesses, so we have created this article to help you to secure your business against these harmful email-borne threats.<\/p>\n

As these attacks are rising in number, it\u2019s important to pay attention to them. BEC attacks jumped 81%<\/a> in 2022, and as many as 98% of employees fail to report these threats. BEC includes phishing, which is one of the most common and successful forms of cyber-attack that are used against businesses.<\/p>\n

What is Business Email Compromise (BEC)?<\/h3>\n

BEC is a type of scam where criminals use email fraud to target victims to undertake an action that leads to a compromise of the business.<\/p>\n

A cybercriminal will pose as an authoritative figure and send emails to individual targets within a business, creating a sense of urgency in doing so. For example, they may pretend to be a company executive or a partner business. Scammers attempt to send emails to employees, customers or vendors in order to compel them to disclose sensitive information or make a payment.<\/p>\n

These scams have the potential to cause severe financial damage to businesses and can harm their reputations greatly, so it is important to take steps to protect your business.<\/p>\n

How Does BEC Work?<\/h3>\n

BEC attacks can range from simple and rudimentary emails, to sophisticated and convincing attacks. In the latter case, a sophisticated attacker will try to research the target organization and its employees, which allows them to create a more precise attack that stands a greater chance of success.<\/p>\n

Scammers will begin to collect intelligence via free online sources, such as LinkedIn, the websites of organizations, and Facebook. Once an attacker has enough information, they can create a convincing email that will attempt to impersonate an authoritative figure linked to the recipient.<\/p>\n

If the email makes it into the recipient\u2019s inbox, they will open it to find an urgent request, such as demands for certain details or to click on a link. These attacks will often use social engineering techniques to create a false sense of trust. This can be achieved using a convincing email address, replicating the person\u2019s phone number, or a website link that realistically spoofs the website of the impersonated person\u2019s company.<\/p>\n

If the recipient falls for the scam and takes the requested action, then it is likely there will be a compromise of sensitive information and\/or a loss of funds.<\/p>\n

How to Fight Business Email Compromise<\/h2>\n

BEC scams are preventable with the right tools and measures. Here is how to minimize the risk of falling victim to them.<\/p>\n

Educate Employees<\/h3>\n

Users form the critical factor in whether a BEC attack ultimately succeeds or not, so its important to empower them to protect your business by raising their awareness of this threat, and the best practices to address it.<\/p>\n

Training should educate users about ensuring email account security, including:<\/p>\n