Stay On Top Of Business Email Compromise

Business Person Checking Email on Mobile Device

*Originally Posted July 11, 2016. Updated May 27, 2020*

You’ve heard the old saying: “Don’t open an email from someone you don’t know.” You assume that your employees understand how to spot a phishing scam with illegitimate hyperlinks or suspicious attachments with odd file extensions. But what if they receive an email that appears to come from your financial adviser, your business’ trusted vendor, or even you? The Federal Investigation Bureau (FBI) has anticipated an uptick in BEC scams during the coronavirus pandemic. Since the beginning of the crisis, businesses are seeing 80% of scam emails are using COVID-19 messages. Continue reading

Cybersecurity Best Practices – In & Out of the Office

National Cybersecurity Awareness Month: A Year-Long Effort

October is National Cybersecurity Awareness Month – a time that is dedicated to showcasing how to stay safe online by providing insight and best practices on how to protect Personally Identifiable Information (PII), financial and sensitive proprietary data.

The need for proper cybersecurity within the workplace should be a continuous effort throughout the year. With small businesses feeling the brunt of data breach events, many of which are caused by cyberattacks or other security vulnerabilities, a proactive attitude toward cybersecurity risks in the workplace is now more important than ever.

Your employees are ultimately your first line of defense against potential data breaches, and they can make or break your overall business security. However, employees may not realize that protecting business information also means protecting their personal information, too.

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Business Email Compromise: Infographic

Business Email Compromise 

It’s important that your employees know how to recognize phishing emails. However, business email compromise (BEC) scams are more sophisticated than traditional phishing attacks — and much harder to detect.

Unlike typical phishing emails that are characterized by unknown senders, grammar and spelling mistakes, and suspicious links and attachments, BEC emails appear to come from familiar entities. 

The most common BEC scams are ones that impersonate a company’s CEO or financial adviser to request fake wire transfers. Your business could suffer major financial losses if it fell victim to a BEC attack. Most often, BEC scams are not discovered until it’s too late. As a result, lost funds resulting from the scams are nearly impossible to recover.   Continue reading