Business Email Compromise 

Business Email Compromise (BEC) Scams are one of the most financially damaging online crimes.  Also known as Email Account Compromise (EAC), it exploits email which we use to conduct business daily – both personally and professionally. 

An example would be: 

• A vendor you regularly deal with sends an invoice with an updated mailing address. 
• A company CEO asks for her assistant to purchase dozens of gift cards as employee rewards 
• A homeowner receives a message from his title company with instructions on how to wire his down payment. 

How Criminals Carry out Business Email Compromise Scams 

• Spoof an email account or website. Slight variations on legitimate addresses (john.kelly@examplecompany.com vs. john.kelley@examplecompany.com) fool victims into thinking fake accounts are authentic. 
• Send spear phishing emails. These messages look like they’re from a trusted sender to trick victims into revealing confidential information. That information lets criminals access company accounts, calendars, and data that gives them the details they need to carry out the BEC schemes. 
• Use malware. Malicious software can infiltrate company networks and gain access to legitimate email threads about billing and invoices. That information is used to time requests or send messages so accountants or financial officers don’t question payment requests. Malware also lets criminals gain undetected access to a victim’s data, including passwords and financial account information. 

How to Protect Yourself  from Business Email Compromise

• Be careful with what information you share online or on social media. By openly sharing things like pet names, schools you attended, links to family members, and your birthday, you can give a scammer all the information they need to guess your password or answer your security questions. 
• Don’t click on anything in an unsolicited email or text message asking you to update or verify account information. Look up the company’s phone number on your own (don’t use the one a potential scammer is providing), and call the company to ask if the request is legitimate. 
• Carefully examine the email address, URL, and spelling used in any correspondence. Scammers use slight differences to trick your eye and gain your trust. 
• Be careful what you download. Never open an email attachment from someone you don’t know, and be wary of email attachments forwarded to you. 

• Set up two-factor (or multifactor authentication) on any account that allows it, and never disable it. 
• Verify payment and purchase requests in person if possible or by calling the person to make sure it is legitimate. You should verify any change in account number or payment procedures with the person making the request. 
• Be especially wary if the requestor is pressing you to act quickly.

   

Protect yourself today from Business Email Compromise (BEC) Scams.  
https://www.breachsecurenow.com/2018/10/02/business-email-compromise-scams-stay/

Where to go for more information or to get in contact with the CCP Team?  

Please visit our website (www.ccpteam.com) or check us out on social media if you’re interested in learning more.  As always, calling our office will result in hearing a friendly voice that is happy to discuss any questions you may have.  We’ll keep pushing in the direction of excellence and look forward to those continuing partnerships that drive IT Success for Business