Email is the lifeblood of modern business communication. But with its indispensability comes a critical responsibility: ensuring your email systems are secure.
One of the most pressing threats today is Business Email Compromise (BEC). Falling victim to BEC doesn’t just jeopardize data—it can come with a hefty financial loss.
What is a BEC Attack?
BEC attacks are scams where cybercriminals impersonate high-level employees—like CEOs or IT staff—to trick others into divulging sensitive information or transferring funds. Research reveals that nearly 90% of BEC attempts follow this formula, preying on trust and urgency.
It’s easy to see how employees, especially under pressure, might act quickly without questioning the sender’s legitimacy.
The Growing Risk
This year, BEC attacks have surged dramatically, particularly in the third quarter. Analysis of 1.8 billion emails worldwide uncovered a staggering 208 million malicious emails, with 58% of them being BEC attempts.
These numbers confirm it: BEC scams now top the list of email threats to businesses.
A key insight? Most BEC scams target lower-level employees who may hesitate to challenge authority or lack awareness of such cyber risks.
Beyond BEC: Other Threats
While BEC is a dominant threat, other methods like phishing and commercial spam remain prevalent. These tactics aim to steal sensitive data, such as login credentials, and their combined impact has outpaced traditional ransomware and malware attacks.
Protecting Your Business
The good news? Safeguarding your business from email threats isn’t complicated or costly.
- Train Your Team: Encourage employees to pause and verify before responding to emails requesting sensitive information or financial actions, particularly under urgency.
- Build Awareness: Regular reminders about the signs of BEC and phishing can go a long way in fostering a cautious culture.
If you’re unsure about your current email security or want expert guidance, reach out to us today. Let’s work together to keep your business secure.
