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Personal cyber security habits keep company away from BEC schemes

cyber security
According to the figures from FBI, Business Email Compromise (BEC) schemes have caused at least $3.1 billion in total losses to approximately 22,000 enterprises around the world.

The Business Email Compromise as a sophisticated email scam that targets large, medium and small size businesses who work with foreign company and familiar with wire transfer.

Formerly known as the Man-in-the-Email scam, BEC typically starts when CEO’s email accounts are compromised and spoofed, with the fraudster sending emails to a financial employee instructing them to wire large sums of money to foreign accounts.

Every organization is receiving BEC scam emails every single day. How to protect against the BEC scams?

  • Educate employees is the most effective way of protecting companies against BEC scams

  • Always question any emails requesting actions that seem unusual or aren’t following normal procedures

  • Users shouldn’t reply to any emails that seem suspicious.

  • Use multi-level authentication for initiating bank transfers

A good personal security behavior can prevent the losses from BEC attack, training and education employee are also very important to against cyber-attack

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