When you experience a breach, time is crucial. Our 24/7 Security Operations Center responds immediately with precision to eliminate the threat and restore operations.
ShadowSpear® is an unparalleled resource that defends your organizations against advanced cyber threats and attacks 24/7/365.
Your organization has cybersecurity weaknesses and vulnerabilities you don’t yet even know about. They need to be found and found immediately. If you don’t someone else will.
In a 2021 survey of over 1,400 CISOs conducted by Proofpoint, 70% of UAE CISOs believe human error is their organization’s biggest cybersecurity vulnerability. This makes sense because globally, CISOs believe Business Email Compromise (BEC) will be the biggest cybersecurity threat in the next year.
Formerly dubbed as man-in-the-middle email scams, BEC attackers rely heavily on social engineering tactics to trick unsuspecting employees and executives. Quite often, the attackers impersonate CEO’s or any executive authorized to do wire transfers. Business email compromises cost businesses money, time, and reputation. According to the FBI, business email compromises are a “$26 billion scam,” that affects thousands of businesses a year. Some sample email messages have subject lines containing such words as “request payment, transfer, and urgent.”
There are 5 types of BEC scams:
BECs can evade traditional security solutions because the scams do not have any malicious links or attachments.
Business email compromise isn’t going away. Business email compromises are akin to the Nigerian letter-writing schemes of the 1990s. Be aware that some insurance companies may not cover BEC’s as a part of your cyber coverage. The insurance companies look at BECs as common theft or user error. Educating and training your employees is the best way to combat falling victim to a BEC attack.
In addition to training your employees on the ways, threat actors will look to take advantage of them, engaging with security firms who have battle-tested experience and highly technical abilities will add another layer of protection against business email compromises. Email monitoring is a crucial defense mechanism of SpearTip’s security services as we instantly add value to your organization upon implementation. It’s nearly impossible for your employees to be perfect, but that’s okay. But as a leader in your organization, ensure you’ve made the right moves to protect your most valuable assets from those inevitable mistakes.
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