BEC Remains A Persistent Threat For One Big Reason – 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.
Solution: Account Takeover Prevention
Detect and automatically reset exposed credentials before criminals can exploit them to bypass MFA and take over accounts.
SpyCloud provides the earliest detection of potentially compromised accounts – those using credentials that have appeared in a third-party breach and are therefore at risk of account takeover. And we automate the remediation of exposed passwords, enabling enterprises to lock down accounts quickly, before targeted attacks like BEC can happen.
Our goal is to help organizations to protect themselves from criminal activity and disrupt criminals’ ability to profit from stolen data.
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