Email is now a crucial tool for any thriving business, but as the saying goes, "with great power comes great responsibility."
As a business owner, it's your duty to ensure your emails are secure. This is vital to prevent your business data from falling into the wrong hands.
Business Email Compromise (BEC) is an increasing threat, and if you become a target, the consequences could be severe.
So, what is a BEC attack?
In simple terms, it's when scammers impersonate high-ranking individuals in the business, such as CEOs, executives, and IT staff, aiming to deceive your employees into divulging sensitive information or transferring money. Research indicates that nearly 90% of BEC attacks are orchestrated in this manner.
It's easy to understand how someone might quickly respond without hesitation, especially when they trust the sender.
BEC attacks have surged significantly this year, particularly in the third quarter. Researchers have examined 1.8 billion emails globally, uncovering a startling 208 million malicious emails among them. Of these malicious emails, over half (58%) were BEC attempts.
The statistics are clear: BEC scams are now the largest email threat to businesses.
Another point to consider? Most BEC scams target lower-level employees, who may be less inclined to question authority or less aware of cyber threats.
While BEC attacks are prevalent, it's also essential to remember that scammers continue to use other tactics too, such as commercial spam and phishing attacks, designed to trick individuals into revealing personal information, like login credentials.
In fact, the combined impact of these scams now surpasses traditional ransomware and malware attacks.
Fortunately, protecting your business isn't complex or costly.
Simply ensure that all team members are trained to think twice about every email they receive.
If an email requests sensitive information or a financial transaction—particularly if it seems urgent—your employees should know to pause and verify with someone before taking any action.
If you need assistance in ensuring your business is secure, reach out.
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