BEC Scams Abound. It's Time To Focus On BEC Security

Summary: This 3-minute article discusses Business Email Compromise and how to protect your SMB from a BEC attack. Cyber security requires multiple defense layers. Contact DIGIGUARD CYBER SECURITY at 833-33-CYBER (833-332-9237) or visit www.DIGIGUARDsecurity.com to schedule a cyber risk analysis and discuss email security solutions to ensure your SMB has the best possible small business cyber security.

What Is Business Email Compromise?

Most people don’t think much about email security. And unfortunately, many SMB owners don’t realize how crucial email security is for protecting their company’s computer systems from cyber attacks. For example, the FBI https://www.fbi.gov/ how-we-can-help-you/ safety-resources/scams-and-safety/ common-scams-and-crimes/ business-email-compromise reports that “Business email compromise (BEC)—also known as email account compromise (EAC)—is one of the most financially damaging online crimes. It exploits the fact that so many of us rely on email to conduct personal and professional business.”

Generally, Business Email Compromise attacks target employees who have specific key roles in their company’s hierarchy. By sending emails that pretend to be from senior management within an employee’s company or some other trusted source, such as a long-time customer, hackers try to trick the users into transferring funds, changing delivery addresses, etc. They also might request specific company private data.

Hackers have developed many techniques for compromising business email accounts:

• Spearphishing – Hackers send emails that appear to be from trusted sources. By pretending to be legitimate contacts, spearphishing emails trick user recipients into sharing their private data. Once they have stolen the credentials they need, hackers might be able to gain access to many other personal accounts.
• Spoofing Email Accounts and Websites – Cyber criminals can create “spoof” emails and websites. Slight differences in the domain names and email addresses of trusted sources might be missed by a user who isn’t paying close enough attention. For example, at first glance, “johndoe@qmail.com” looks legitimate. However, a user might not notice that instead of “gmail,” the fake account uses “qmail,” replacing the “g” with “q.”
• Malicious Software – Malicious software or Malware, either embedded in an email or on a malicious website, can allow cybercriminals access to their target’s private data, such as bank accounts and passwords. Worse, they can infect your SMB’s networks gaining access to all of your company’s most confidential data.

Fortunately, there are some email security solutions users can apply to mitigate the chances of Business Email Compromise:

• Limit Personal Information Posted Online – The more details about your personal life (anniversaries, birthdays, addresses, etc.) you share online, the easier you make it for a hacker to piece them together and guess your password or figure out the answer to one of your security questions.
• Think Before You Click – Don’t click on anything in a text or email if you are not sure it’s from a trusted source. Likewise, unless you can call the source and verify the authenticity of the contact, do not click on links or reply. Taking a minute to confirm the legitimacy of the communication is an easy alternative to falling victim to a cyberattack.
• Look Before You Download – Opening email attachments and downloading files from unverified sources could open your computer system to a cyberattack that can bring your business to a grinding halt.
• Use Multi-Factor Authentication (MFA) for all your accounts and platforms. Adding these layers of cyber threat protection can make it harder to get hacked.
• Don’t Respond To Pressure – Some email and text communications press the recipient to respond urgently with payments or private information such as bank account numbers. Be methodical about verifying authenticity before responding.

As computers and networks become faster, businesses must be aware of the dangers of moving too quickly when replying to emails, clicking on links and downloading files. The repercussions of a cyberattack and a serious data breach could stop the operation of your business and, at its worst, force your small to midsized company out of business.

DIGIGUARD’s Innovative Solutions For SMBs

As your SMB grows, expands its network and adds more platforms and devices, such as Bluetooth devices, smart controls and wireless remote, your network’s vulnerability grows, too. Protection against BEC scams is just one layer of many security steps required to protect your computer system. DIGIGUARD specializes in proactive cyber security and network security and has a wide array of solutions for small to midsized businesses to defend against cyberattacks and other network data breaches. They are cyber security experts who can ensure your confidential personal, business and financial data have the best protection possible. Furthermore, they can help establish cyber security best practices and provide employee training so they do not inadvertently expose your company to a cyberattack. That training will work in tandem with the rest of your cyber protections so that everyone knows what they must do to prevent a data breach and precisely what to do in the event of a cyberattack. DIGIGUARD’s services in cyber security are up-to-the-minute and cost-effective. They will enable SMB owners to concentrate on operating their businesses without fear of a data breach crippling their operations.

Contact DIGIGUARD CYBER SECURITY at 833-332-CYBER (833-332-9237) www.DIGIGUARDsecurity.com to discuss the best cyber threat protection for your SMB before you face a deadly cyberattack.