6 Steps To Outsmart Business Email Compromise Scammers
DARKReading, Thursday, July 6,2023
Email fraud is a confidence game that costs the economy billions. An effective defense takes technology and vigilance.
Last year the FBI registered over 21,000 complaints about business email fraud, with adjusted losses of over $2.7 billion. Today this line of attack shows no sign of slowing down. Business email compromise (BEC) techniques are increasingly sophisticated; cybercrime-as-a-service (CasS) has lowered the barrier to entry for threat actors while also making it easier to evade "impossible travel" alerts, among other safeguards.
BEC is a confidence game. The technology aspects - links that download malware, take users to spoofed sites, or motivate a financial transaction - require social engineering to gain trust and motivate a click.