🔒 Cybersecurity Update: Rising BEC Attacks on Business Email Accounts
William O'Neal
We help small business owners with technology and communications so they can focus on the things they love to do
Good morning, Linkedin! This week's newsletter is about a 5-minute read, and I highly recommend you take the time to read this one.
In the fast-evolving digital landscape, email remains a cornerstone for business communications. However, with its extensive use comes significant responsibility, especially regarding security.
What's at Stake with Business Email Compromise (BEC)?
BEC attacks are a sophisticated scam targeting businesses. Fraudsters impersonate executives or trusted partners to deceive staff into sending money or sensitive data. Shockingly, research indicates nearly 90% of these attacks occur this way, demonstrating the critical need for vigilance.
This year, particularly in the third quarter, BEC incidents have surged. Analysis of 1.8 billion emails revealed about 208 million were malicious, with more than half identified as BEC schemes. These numbers underscore the prevalence of BEC attacks and mark them as the predominant threat in business communications today.
Who's Most at Risk?
Interestingly, BEC scams often target lower-level employees—those less likely to question instructions they believe are from higher-ups. This tactic exploits hierarchical dynamics, making it less likely for employees to verify suspicious requests.
While BEC is on the rise, don't overlook other methods employed by scammers, such as phishing and spam. These methods continue to trick individuals into giving personal information like login credentials. The combined impact of these strategies now rivals traditional threats like ransomware and malware.
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Simple Steps to Safeguard Your Business
Protecting your organization isn't necessarily costly or complex. Start with education: ensure your team understands the importance of scrutinizing every email. Please encourage them to pause and verify any request involving sensitive information or financial transactions, particularly under pressure.
Need Help?
Feel free to reach out if you're unsure how to fortify your business's defenses against these sophisticated email threats. Our expertise could be your peace of mind.
Stay safe and informed, William O'Neal | President
Mid Atlantic Computer Solutions
Phone: 703.236.5800
Email: woneal@macsolutions.com