Number one cybercrime for financial losses for 7 consecutive years
There are BEC victims in 177 of 195 countries around the world
BEC has resulted in over $400 billion stolen from victims globally
If someone whispers the letters “B”, “E”, and “C” somewhere on the internet, chances are that Ronnie’s name comes up. Stemming from the days before APT was a buzzword, Ronnie has spent the last 6 years fighting and advocating for all things Business Email Compromise. He likes pointing to big numbers, says we need to start caring about each other to fix this problem, and can frequently be found posting memes on why the financial losses of BEC are worse than ransomware. (Aside from it being a cold fact, of course.)
Real BEC Threats Secure Email Gateways Missed
Each week our analysts share a selection of real threats discovered in environments protected by Proofpoint and other SEGs. Here are some of the most recent BEC attacks we’ve found.
ENVIRONMENTS: Microsoft Defender for O365
POSTED ON: 12/06/2022
THEME: Part time job-themed email
PHISHING EXAMPLE DESCRIPTION: Part time job-themed emails found in environments protected by Microsoft ATP deliver BEC. Specifically, the emails are likely seeking collaborators for a reshipping scam.
Business Email Compromise Overview
Business email compromise amounts to an estimated $500 billion-plus annually that’s lost to fraud. That’s billions lost to unemployment fraud. Billions lost to romance scams, real estate cons, advanced-fee fraud and dozens of other crimes affecting hundreds of thousands of victims. No single company can solve BEC, but awareness can help.
Other BEC Methods
BEC is Big Money
How to Combat BEC
What are the most common BEC scams?
Protect Your Organization from BEC Attacks
Follow our checklist to ensure your organization stays protected.