Maximize your protection, eliminate business risks.
Optimize and modernize with cloud transformation.
Empower your people to work securely from anywhere.
What it takes to convince leadership that migrating to the cloud is the right move.
Let us handle IT so you can focus on growing your business.
Get multichannel 24/7/365 expert end-user support.
Stay ahead of attacks with 24/7 protection and monitoring.
Maximize uptime with with industry-leading DRaaS.
Improve efficiency, productivity and outcomes with cloud.
Ensure all mobile devices, everywhere, are secure.
Gain a competitive edge with strategic IT solutions.
This battle-tested checklist enables your team to swiftly initiate a ransomware response.
IT for businesses of all sizes, in any industry.
Empower institution growth with custom IT solutions.
Ensure your firm is always in compliance.
Improve patient care and staff morale.
Deal with pressing legal matters, not IT.
Keep up with the evolving digital landscape.
Focus on your mission by outsourcing IT.
Accelerate PE client deals and secure data.
Leverage your technology as a strategic asset.
Execute initiatives and develop IT strategies.
Get the latest industry insights and trends.
Join us at events in person and online.
Hear from clients and learn more about strategic IT.
See how Dataprise can make IT your greatest asset.
Get informative technical resources from IT experts.
Stay on stop of emerging cybersecurity threats.
Discover the key areas of DR your organization needs to address to ensure downtime is minimized.
Gain a strategic asset by bringing harmony to IT.
Ensure 24/7 support and security with dedicated teams.
Drive business forward by partnering with Dataprise.
Meet our one-of-a-kind leadership team.
Discover the recognition Dataprise has earned.
Help us help businesses with strategic IT.
Embracing different perspectives and backgrounds.
Find a Dataprise location near you.
Dataprise is committed to empowering more women to consider a career in technology.
Posts
By: Tim Foley
Table of content
Business email compromise attacks – or BEC – are not your father’s “Nigerian Prince” email scam. BEC attacks are strategic, effective, increasingly lucrative, and do not discriminate against industry or business size. As these attacks become more frequent, you must be diligent, skeptical, and cautious, and implement information system security best practices to avoid becoming a statistic.If your business operation relies heavily upon email communications, it’s important to know how to prevent business email compromise attacks.
In a business email compromise attack, a cybercriminal hacks the corporate email account of an executive or other senior-level employee, and impersonates that person to defraud the company, its customers, partners, or employees into sending money or sensitive data. This type of Man-in-the-Middle business email compromise attack is sometimes referred to as a Man-in-the-Email attack because the hijacked communication stream always involves email communication.
Business email compromise attacks are becoming more common, so much so that both the FBI and information security companies have taken notice in the last several years. Based on the statistics the FBI has compiled, total global losses attributed to BEC now exceed $12.5 billion, which is up from $5.3 billion in 2016.
In 2015, the global toy company Mattel fell victim to a BEC attack resulting in the loss (and eventual return of) $3 million. In this attack, a cybercriminal posing as Mattel’s CEO, Christopher Sinclair, sent an email to Mattel’s finance executive requesting the wire transfer of $3 million to the Bank of Wenzhou in China. Fortunately, with the help of the FBI and the Bank of Wenzhou, they were able to retrieve the funds shortly thereafter. If your organization is wondering how to prevent business email compromise attacks, Dataprise CYBER’s managed security services can help.
The best way to prevent business email compromise attacks is through comprehensive security management and training. With an ounce of prevention, you can avoid falling victim to one of these debilitating attacks. Educating your staff and implementing information security best practices, including 24×7 monitoring, are essential and proactive ways to protect yourself and your data. However, there are other methods, too.
I hosted a free webinar entitled “Think Like A Hacker: Unmasking Business Email Compromise” in which I went into greater detail about these attacks and the additional information and network security measures you can take to prevent them from happening to you. View our webinar HERE to learn more about business email compromise prevention.
INSIGHTS
Subscribe to our blog to learn about the latest IT trends and technology best practices.