What is a BEC?

          Business Email Compromise, or BEC, stands as a subtle yet potent adversary within the realm of cyber threats. Unlike the flashy exploits often associated with hacking, BEC operates in the shadows of normalcy, relying on deception and manipulation to achieve its objectives.

          At its core, BEC is a type of scam where cybercriminals exploit trust and authority. Imagine receiving an email from your CEO or head of finance, or HR, instructing you to urgently transfer funds for a confidential project or, even more common, sign a DocuSign document. The catch? It's not your CEO but an adept impersonator who has meticulously studied communication patterns and organizational hierarchies. Falling for this ruse could lead to the transfer of substantial funds into the wrong hands. In the case of the DocuSign doc, it's usually a fake document when you click "Sign" it will take you to a sign-in page for your email provider, like Outlook for example. Where, as soon as you enter your credentials, the hacker has stolen them and can even bypass MFA.

          What makes BEC particularly insidious is its simplicity. It doesn't rely on complex malware or sophisticated hacking techniques. Instead, it preys on human psychology and the trust we place in digital communication. By impersonating a trusted figure within an organization, BEC attackers can manipulate employees into unwittingly facilitating financial transactions or divulging sensitive information.

          We have personally witnessed the severity of BEC threats. Companies, both large and small, have fallen victim to these schemes in less than a minute, to an event so trivial that the victim usually forgets in a few minutes which end up resulting in multi-million dollar losses. The simplicity of the attacks serves as a stark reminder that even the most sophisticated cybersecurity measures can be undermined by a well-crafted email. Vigilance, education, and a healthy skepticism towards unexpected email requests as well as a solid plan in every employees mind on the correct way to deal with suspicious mail are crucial in fortifying defenses against Business Email Compromises.

Reach out for more information on how you can prepare your employees for this elusive attack.