If someone were to warn you to "beware of BECs," would you have any idea what that person was talking about? Business Email Compromise (BEC) attacks are a very real danger to all kinds of businesses. These hacker attacks go beyond everyday phishing to target your most valuable team members and data. Our Austin IT services team wants to make sure you don't fall into the BEC booby traps, so let's take a look at the basics of this danger to your business.
BEC attacks are also referred to as "man-in-the-email attacks" or "CEO attacks." Both of these terms describe this type of hacking attempt very well. A BEC attack uses the basic hacker's technique of phishing to fool unsuspecting employees into handing over critical financial documents or other lucrative data.
But these are no ordinary phishing attempts -- for these hackers are masters of disguise. The hacker does his homework first by researching the company's employees, recent developments, and/or ongoing projects through any available online channels, including successful hacks into the company's email system. The hacker then spoof the CEO's email address, issuing specific instructions to key employees that sound like authoritative requests for data. The employees might receive instructions to pay invoices or wire funds to various accounts. The bottom line is that the hacker profits at your expense.
What can you do about BEC attacks? First and foremost, educate your employees. Teach then how to recognize phishing attempts and double-check any requests for money with the people who are supposedly sending those requests. You should also beef up your email security with extra measures such as two-factor authentication. Last but not least, make sure your IT system's overall security safeguards are strong and up to date. Contact us today to run a check on your system and make any necessary recommendations!