Email-based cyber intrusions are widespread. Looking at statistics, the U.S. Cybersecurity and Infrastructure Security Agency states that 90% of effective cyber intrusions commence with deceptive emails. While deceptive emails can aim at persons and companies of all scales, attackers might opt to intensify their focus on senior staff to enhance their likelihood of making a significant gain.
Commonly referred to as business email fraudulent scheme, this form of email fraud, which frequently involves impersonating high-ranking executives or other prominent authorities to deceive employees into sending money or disclosing confidential details, is an increasing hazard today, causing firms billions of dollars every year.
This article, penned by Franklin Okeke for TechRepublic Premium, looks into the alarming evolution of BEC tactics, evaluates the current status of this billion-dollar corporate threat, and delineates specific actions firms can take to proactively address it.
Highlighted excerpt from the download:
REASONS BEHIND THE SURGE IN BEC ASSAULTS
BEC displays no indication of decelerating as it ticks off various boxes for cyber felons — it’s highly profitable, can be executed remotely with minimal risk, and doesn’t necessitate advanced technical prowess. As a deception-driven financial deceit, BEC circumvents numerous conventional security measures and aims at an organization’s most susceptible attack avenue: its personnel. Several factors have fueled the expansion of these harmful assaults. Prominent among these factors are those below:
Augmented dependence on email for business processes
As per a study by Radicati Group, the total count of business and consumer emails sent and received is anticipated to surpass 361 billion by 2024 and is forecasted to exceed 408 billion by the conclusion of 2027. The study indicates that more firms are integrating email as a means to streamline their communication workflows. However, a drawback of this medium is that it can expose vulnerabilities for cyber criminals to exploit. Cyber culprits can masquerade as legitimate associates and dupe executives into approving deceitful wire transfers.
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TIME SPARED: The creation of this content necessitated 20 hours of dedicated writing, revision, and investigation.
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