6 Steps To Outsmart Business Email Compromise Scammers
06-Jul-23
A confidence trick that costs the economy billions is email fraud. Technology and awareness are required for an effective defence. Over 21,000 reports of commercial email fraud were filed with the FBI last year, totaling over $2.7 billion in losses. This method of attack is still going strong today.
Cybercrime-as-a-service (CasS) has lowered the entry hurdle for threat actors while simultaneously making it simpler to circumvent “impossible travel” notifications, among other precautions. Business email compromise (BEC) techniques are becoming more complex. BEC is a game of confidence. Social engineering is needed to build trust and persuade consumers to click on links that download malware, direct users to fake websites, or encourage financial transactions.
