Business Email Compromise: A Guide to Protecting Yourself After a BEC Attack

Many businesses underestimate the impacts of business email compromise (BEC). It doesn’t cause shutdowns or immediate loss of productivity and therefore often flied below the radar. However, the financial impact felt from BEC can be immense and the losses can be significant. According to Verizon’s 2021 Data Breach Investigations Report, 95% of BECs result in a financial loss ranging between $250 and $985,000, with $30,000 being the median. To prevent BEC, we first need to understand how they happen. How does a BEC attack happen? Some common tactics hackers use includes email or website spoofing, phishing, and malware. Email or…