Business Email Compromise (BEC)

Business email compromise (BEC) is a form of phishing where a criminal attempts to get a worker, customer or vendor to send money or disclose private information by sending a phony email that appears to be coming from a trusted company figure.

 

BEC usually targets specific employees or roles with a spoof email instructing the recipient into transfer or release the desired assets to an account controlled by the fraudster. Based on numerous sources, the incidence of BEC appears to be rising rapidly. The FBI reports that BEC losses in 2017 alone exceeded $3 billion globally.

 

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