BEC is a sophisticated way of phishing attacks, which does not include only email phishing, but tends to attack social media, mobile devices, etc. Cybercriminals go on targeting global companies with more advanced technologies than ever. How to recognize and protect yourself from BEC attacks?
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The definition of BEC
BEC stands for Business Email Compromise. BEC is a method, which is used by criminals to hack emails of big organizations/companies, contact employees by pretending to be CEO or someone well-known in the company. There are different schemes but the most common case is when cybercriminals emailing a person in charge of wire transfer and ask to deposit the money.
BEC’s target companies
According to Gulfnews cybercriminal targeting different industries and their customers globally. The focus industries are high-tech, financial services, e-commerce and media. Their objectives are the biggest world’s brands like PayPal, Dropbox, Microsoft, DHL.
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How to identify and prevent BEC attack
Cybercriminals are using different tactics to find the right person to scam. The first alarm is noticing suspicious words like “urgent”, “payment”, “requested”. The next step is to check the sender’s email address and forward the message, so the address would be double-checked before you reply. The other technique is creating a unique domain for the company’s mailbox instead of using online emailing services.
Ransomware or BEC is a very significant cybercrime threat. According to Trendmicro companies lost in total 140,000 USD in 2016 due to such attacks. That’s why neglecting any kind of suspicious activity on your PC or in particular emails or messages, requiring to transfer a certain sum of money, might be dangerous. So beware! You should also join a training course or an educational program (if there is any in your company) on how to detect this kind of threat.
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