If you have heard of business email compromise, or BEC for short, yet do not know what it means, you are not alone. Most people have a vague idea of what BEC stands for, yet few comprehensively understand the magnitude of this threat. In plain English, BEC is manipulation through email for monetary gain. The overarching goal is to compromise the target to make money. However, you are not defenseless against BEC. Make your team aware of this threat, lean on our managed IT services team in Orange County for assistance and you will sidestep the vast majority of digital attacks.
How BEC Occurs
BEC is not limited to the impersonation of an executive or the transmission of a phony invoice. Rather, BEC is typically conducted with a combination of digital manipulation and attacks including malware, phishing, domain spoofing and other techniques to convince the business email user to perform an action he or she should not, such as revealing login usernames and passwords. In other cases, BEC targets are convinced it is necessary to wire money to a party when the truth is that party is actually a con artist.
Identifying and Deceiving Targets is Easier Than Most Assume
Those who perform BEC use careful deception, in-depth planning and a remarkable amount of patience to pull of this scam. In short, BEC is centered on establishing a rapport with the target then exploiting that trust for financial gain. BEC scam artists research potential targets, learn about their business and professional network then zero in on compromising their email account. From keyloggers to phishing, malware and social engineering, numerous tactics are used to obtain the victim’s email password. This email account is then compromised by creating the impression that urgent action is necessary.
From account takeovers using the target’s login credentials to user impersonation, data theft and false invoice schemes, there are numerous forms of BEC that ultimately leave targets vulnerable. Fret not, you can reach out to our managed IT services team in Orange County to help your business combat this threat and protect your email and safeguard what is most important: your finances. We will educate your team about the nuances of BEC, train them to avoid this trap and also sidestep additional digital pitfalls as time progresses.
Business email compromise has the potential to trip up professionals regardless of their tech expertise, educational background and role at their unique business. At Advanced Networks, our managed IT services team in Orange County will help you avoid this digital trap as well as other emerging threats. Reach out to us how we can keep your business stay safe and protected.