Business Email Compromise 101
– It’s Still Really Effective
According to the FBI’s Internet Crime Complaint Center (IC3), losses from BEC surpassed $1.8 billion in 2020 – an average of $93,000 per incident.
BEC is challenging to prevent, especially when vendors are compromised, but SpyCloud believes prevention begins with addressing the human attack surface, particularly the prevalence of poor password hygiene. When passwords are reused between employees’ or vendors’ work and personal accounts, credentials that have already been exposed in a data breach are fair game for use in BEC campaigns.
This report examines the very human problem of password reuse and the social engineering tactics used by criminals to dupe organizations. As this report explains, all it takes to steal from your business is a single compromised account.
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