What Is a Business Email Compromise Attack?

What Is a Business Email Compromise Attack?

Answer: BEC (Business compromise attack) is a method of phishing, in which the attacker tried to manipulate the executive holders to transfer the funds or give highly secure information.

BEC is an email cybercrime scam where the hacker’s main focus is the business to do the fraud with the company. The Business email compromise is an ongoing problem that points the companies of all sizes all over the world. The scams of BEC uncover the associations and make the loss of billions of dollars.

The email account compromise is also similar to it and a growing threat in the cloud-based architecture. EAC is related to BEC because both the compromised accounts are the source of the BEC-associated Scams, and BAC is the form of cyber-attacks. The working of the BEC is discussed in the following:

• The scam starts with a phishing email that is the source to have the unauthorized access to an account.
• The hackers might use the email in sequence to gain the trust, though the emails have no virus there might be the chance of risk connecting the hacker with personal accounts.
• The scammer disguised themselves as the vendors that require the payments or sensitive information.
• The hackers provide emails to the employees and make a call to gain their trust.
• During the employee out of reach, like on some trip, the cybercriminals send the email from their office asking to make a payment to the vendor’s accounts.
• As the employee has no method to verify the email, they will decide to approve the payments. The payment went straight to the hacker account rather than the vendors.

BEC scams have different categories some of them are listed in the following:

CEO Fraud:

The hacker disguised as the CEO of the company and email the person in the finance section and asked for the transfer of funds to the given account.

Account compromise:

The email account of the employee is targeted and used for the transition to vendors and sent toward the account of the hackers.

Data theft:

Their target is the HR employee to get the personal data about the person like the CEO or directors and might be the source to fraud the CEO of the organization.