What is BEC attack?

Similar to angler phishing, in business email compromise attacks, instead of social media accounts, legitimate email accounts are compromised to perform fraudulent financial transactions or give away confidential organisational data to the attacker. Attackers use social engineering techniques to trick employees and gain access to sensitive information or financial resources. A business can suffer severe financial losses, legal repercussions, and reputational damage due to BEC attacks. BEC attacks are rising due to cybercriminals’ improved techniques for evading security measures.