Cyber crime is up during a pandemic and one of the easiest tricks for criminals is to fake or spoof business emails that appear to come from your company. One common technique is known as Business Email Compromise or BEC. The FBI estimates that BEC scams have cost organizations $26 Billion in losses over the past 3 years.
What is BEC? BEC occurs when a cybercriminal is able to use a compromised business email account with the goal of transacting fraud with an unsuspecting employee or vendor. Companies can lose millions with only a few clicks.