Protecting Your Business from Business Email Compromise

In today’s digital age, email has become an integral part of our professional lives. Unfortunately, it has also become a primary target for cybercriminals. Business Email Compromise (BEC) is one of the most pervasive and damaging forms of cyberattacks. At Imagineering, we are committed to helping local businesses navigate the complexities of modern cybersecurity and protect them against such threats.

The Threat Landscape

Did you know that email is the starting point for 91% of all cyberattacks? Every day, there are approximately 156,000 attempts of business email compromise. More than 90% of all successful cyberattacks begin with a phishing email, making it clear that businesses need to be vigilant in their email practices.

What is Business Email Compromise?

It is a type of cybercrime where scammers assume the digital identity of a trusted person to trick employees or customers into taking a desired action. These actions often include making a payment, sharing data, or divulging sensitive information.

Common examples of BEC include:

• Invoice scams: Fraudsters create fake invoices that appear to be from legitimate vendors.

• Employee payroll manipulation: Scammers request changes to an employee’s direct deposit information.

• W-2 phishing: Cybercriminals pose as company executives to request W-2 forms from payroll or HR departments.

• Admin account takeover: Attackers gain control of an administrative email account to manipulate business processes.

• Vendor invoice scam: Impersonating a vendor and requesting payments to fraudulent accounts.

Human-Centric Protection and Prevention

Since BEC attacks primarily target human vulnerabilities, the methods of protection and prevention must also be human-centric. Here are some steps you can take to defend yourself against BEC:

1. Enforce Two-Factor Authentication: Ensure that all accounts with access to sensitive information use two-factor authentication. This adds an extra layer of security by requiring a second form of verification.

2. Verify Requests for Changes: If someone requests a change of payment or financial information, always make a phone call to verify the request. Do not rely solely on email communications.

3. Report Unusual Behavior: If your computer or cloud programs are behaving unusually (e.g., if expected emails are missing), report this to your IT team to investigate. Early detection can prevent significant damage.

4. Avoid Clicking on Links: Do not enter any sensitive or personal information on a page you accessed by clicking a link in an email. When in doubt, manually navigate to the website yourself.

5. Examine Correspondence Carefully: Carefully examine email addresses, URLs, and spelling used in any email correspondence. Scammers often use slight differences to trick your eye and gain your trust.

6. Be Cautious with Unsolicited Emails: Avoid clicking on links or opening attachments in unsolicited emails, especially if they ask you to update or verify account information, or if the sender is pressing you to act quickly.

By partnering with Imagineering, you gain access to a team of dedicated security experts who work around the clock to catch and contain BEC attacks. Our comprehensive cybersecurity solutions are designed to protect your business from the ever-evolving landscape of cyber threats.

Remember, the best defense against BEC is a well-informed and vigilant workforce. By implementing these practices and partnering with cybersecurity professionals, you can significantly reduce the risk of falling victim to Business Email Compromise.

For more information on how Imagineering can help protect your business, contact us today. Let us be your trusted partner in cybersecurity.