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Threat Intelligence

6/13/2019
01:30 PM
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7 Truths About BEC Scams

Business email compromise attacks are growing in prevalence and creativity. Here's a look at how they work, the latest stats, and some recent horror stories.
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How BEC Works

BEC scams vary, but the general commonality is that they go after well-placed individuals - those who control financial accounts - at both large and small organizations with very targeted spear-phishing attacks. Typically using either email account takeover or spoofing, the bad guys will impersonate a colleague or boss - sometimes the CEO, sometimes a vendor, sometimes a highly ranked individual in another department. They'll then convince the mark to either transfer money to a fraudster or change details in an existing financial transaction to benefit themselves.

Image Source: Adobe Stock

How BEC Works

BEC scams vary, but the general commonality is that they go after well-placed individuals those who control financial accounts at both large and small organizations with very targeted spear-phishing attacks. Typically using either email account takeover or spoofing, the bad guys will impersonate a colleague or boss sometimes the CEO, sometimes a vendor, sometimes a highly ranked individual in another department. They'll then convince the mark to either transfer money to a fraudster or change details in an existing financial transaction to benefit themselves.

Image Source: Adobe Stock

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Sophie1526893718477220675
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Sophie1526893718477220675,
User Rank: Apprentice
6/21/2019 | 3:58:59 AM
Great post
I really admire your efforts. These are really beautiful. I have totally agreed with you. Thanks for providing such information.
jenkinsla2
50%
50%
jenkinsla2,
User Rank: Apprentice
6/18/2019 | 5:06:44 AM
Re: very good
Exactly! Thank you very much for this great article.
hotmail123
100%
0%
hotmail123,
User Rank: Apprentice
6/16/2019 | 10:04:07 PM
very good
I am so happy to read this. This is the kind of manual that needs to be given and not the random misinformation that's at the other blogs.
jared333
100%
0%
jared333,
User Rank: Apprentice
6/14/2019 | 12:29:25 PM
Listacles
AD VEVENUE BABY
SoggyToaster
100%
0%
SoggyToaster,
User Rank: Apprentice
6/14/2019 | 6:02:24 AM
Click-through slideshows are terrible...
...so why did you slice this article up into 8 parts, then make me click through to read it? Oh, wait... I didn't. I bailed out halfway through. Please just post articles, not annoying listacles. =(
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