Company-Wide Policy Needed to Mitigate Business E-Mail Compromise
Company-Wide Policy Needed to Mitigate Business E-Mail Compromise An analysis of 3,000 Business E-Mail Compromise (BEC) scam campaigns showed that a company-wide policy is needed to mitigate this threat. What Is Business E-Mail Compromise (BEC) Business E-Mail Compromise (BEC), also known as CEO fraud, refers to a sophisticated scheme that tricks an organization into paying a sum of money to a scammer. BEC Threat Scenario After analyzing 3,000 BEC scam campaigns, Barracuda Networksfound that the term “CEO fraud” in referring to this type of cybercrime has justification as 43% of the impersonated email senders were the CEO or founder. The Barracuda Networks study, however, found that the majority or 57% of the impersonated email senders weren’t the CEO or founder. Out of the 57% impersonated email senders, 4.5% were C-level…