Understanding Business Email Compromise (BEC)

Business Email Compromise (or BEC) is a growing threat. If you become a target, it could cost you significantly.

So, what exactly is a BEC attack?

In simple terms, BEC attacks involve scammers posing as people high up in the business, like CEOs, executives, or IT staff. Their goal is to trick your employees into sharing sensitive information or sending money. Research shows that nearly 90% of BEC attacks are set up this way.

It’s easy to see how someone might quickly respond without a second thought, especially when they trust the sender.

Shocking Statistics on BEC Attacks

BEC attacks have spiked dramatically this year, especially over the third quarter. Researchers analyzed 1.8 billion emails worldwide, uncovering a shocking 208 million malicious emails among them. Of these, more than half (58%) were BEC attempts.

The figures make it clear: BEC scams are now the biggest email threat to businesses.

Another critical point? Most BEC scams target employees lower in the organization. These individuals may be less likely to question authority or recognize cyber threats.

Other Common Email Threats

Although BEC attacks are prevalent, scammers still use other methods, including commercial spam and phishing attacks. These scams aim to trick individuals into sharing personal information, like login credentials.

The combined impact of these scams now overshadows traditional ransomware and malware attacks.

Protecting Your Business

Fortunately, protecting your business isn’t complicated or expensive.

Start by ensuring that all team members are trained to carefully evaluate every email they receive. If an email requests sensitive information or a financial transaction—especially if it feels urgent—employees should know to stop and verify with someone before taking action.

If you need assistance securing your business, get in touch. We’re here to help.