Business Email Compromise (BEC)

Business Email Compromise (BEC) is a type of cybercrime in which hackers deceive individuals or organizations to gain unauthorized access to their email accounts. This scam typically involves impersonating a trusted party, such as a colleague, supplier, or executive, and tricking the victim into performing financial transactions or providing sensitive information.

BEC attacks can take various forms, including invoice scams, CEO fraud, and account compromise. In invoice scams, attackers intercept legitimate invoice communications and alter bank account details, leading to funds being transferred to the hacker’s account. CEO fraud involves impersonating a high-ranking executive and instructing employees to transfer money or share confidential information. Account compromise occurs when hackers gain access to an individual’s email account and exploit it to target the victim’s contacts or carry out further attacks. BEC attacks are often highly sophisticated, employing social engineering tactics and extensive research to convincingly deceive their targets. It is crucial for organizations to implement security measures like email authentication protocols, employee education, and email-filtering systems to defend against BEC attacks.