In recent years, the FBI has warned of the growing danger of Business Email Compromise (BEC) scams. These sophisticated schemes involve cyber criminals impersonating company executives or employees to trick employees into transferring funds or sensitive information.
BEC scams typically start with a hacker gaining access to a company executives email account. They then use social engineering tactics to convince employees to wire money, share sensitive information, or make unauthorized purchases.
There are several red flags to watch out for when it comes to BEC scams. These include urgent requests for wire transfers, changes in payment instructions, and requests for sensitive data such as employee or customer information.
To protect against BEC scams, companies should implement strong authentication measures, train employees on how to spot phishing emails, and verify all payment requests through a secondary channel such as a phone call.
What should I do if I suspect my company is a target of a BEC scam?
How can employees be trained to recognize BEC scams?
What role does the FBI play in investigating and preventing BEC scams?
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FBI alerts on BEC risks