Sophisticated email fraud targeting businesses to initiate fraudulent wire transfers or steal sensitive data.
Business Email Compromise (BEC) is a targeted attack where criminals impersonate executives, suppliers, or trusted partners to trick employees into transferring money or revealing sensitive information. BEC often involves compromised or spoofed email accounts and extensive research to make requests appear legitimate. Common scenarios include fake supplier invoices with changed bank details, CEO instructions to make urgent payments, and requests for employee tax information. BEC causes billions in losses annually and is one of the most financially damaging cyber threats.
Why It Matters
The DSC Perspective:
BEC attacks bypass technical controls through social engineering. They're responsible for massive financial losses—often six or seven figures per incident. Verification procedures for payment changes and unusual requests are essential defences.