Security Alert: Business Email Attacks Are Surging

Email is the backbone of modern business communication. From closing deals to sharing critical data, businesses rely on email every day to operate efficiently. But as the saying goes, “With great power comes great responsibility.”

Your responsibility as a business leader? Ensuring that your company’s emails are secure. Without the proper precautions, you risk falling victim to cybercriminals who exploit email vulnerabilities.

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What is Business Email Compromise (BEC)?

Business Email Compromise, or BEC, is a type of cyber attack where scammers impersonate trusted individuals within your organisation – such as executives, CEOs, or IT administrators. Their goal? To manipulate employees into sharing sensitive data, transferring funds, or revealing login credentials.

How Does a BEC Attack Work?

BEC attacks are designed to exploit trust. Cybercriminals craft convincing emails that appear to come from legitimate sources. These emails often include:

  • Urgent requests for wire transfers or financial transactions.
  • Sensitive data requests, such as login credentials, tax details, or employee records.
  • Poses of authority from high-ranking team members to bypass employee hesitation.

Shockingly, nearly 90% of BEC attacks involve this type of impersonation. Employees – especially those who trust the sender – can quickly comply without giving it a second thought.

Alarming Surge in BEC Attacks

BEC attacks are not a minor issue – they’ve become the leading email threat to businesses worldwide. Research from over 1.8 billion emails analysed this year reveals staggering statistics:

  • 208 million malicious emails were detected globally.
  • 58% of those malicious emails were Business Email Compromise attempts.

What’s even more concerning is the surge in attacks during Q3 of this year, signalling an upward trend that shows no signs of slowing.

Why Are Employees Lower in the Business Targeted?

Surprisingly, BEC attacks often target junior-level employees or staff in departments like HR, finance, or admin. Why?

  1. Lower awareness of cyber threats compared to senior staff.
  2. A greater likelihood of unquestioning compliance with authority figures.

It’s a calculated move by scammers who know these employees may not scrutinise requests from ‘the boss’ or question emails that appear legitimate.

Other Email Threats: Phishing and Spam

While BEC scams dominate the conversation, other email-based cyber attacks remain prevalent, including:

  • Phishing Attacks: Emails designed to steal personal data, such as login credentials, by posing as legitimate entities.
  • Commercial Spam: Mass emails that contain deceptive links or downloads. Combined, these methods now overshadow traditional ransomware and malware attacks in terms of threat volume.

How Can You Protect Your Business?

The good news is that protecting your business from BEC and other email threats doesn’t have to be complicated or expensive. Here are actionable steps to safeguard your company:

1. Train Your Team

Education is your first line of defence. Ensure every team member knows how to recognise suspicious emails. Key tips for employees include:

  • Pause before acting on any email that seems urgent or requests sensitive data.
  • Verify financial requests by contacting the sender via phone or other channels.
  • Look for signs of phishing, such as mismatched email addresses, grammatical errors, or unfamiliar tone.

The National Cyber Security Centre (NCSC) provides practical tips to help employees stay alert and recognise suspicious emails.

2. Implement Email Security Tools

Invest in tools, like Sophos Email that:

  • Filter out malicious emails.
  • Detect impersonation attempts.
  • Provide alerts for suspicious activities.

3. Enforce Multi-Factor Authentication (MFA)

Enable MFA on all email accounts. Even if a scammer obtains login credentials, MFA acts as a second barrier, stopping unauthorised access.

4. Create a Reporting Process

Make it easy for employees to report suspicious emails. A clear process encourages vigilance and helps mitigate threats early.

Stay Ahead of Email Security Threats

BEC attacks are rising, but with the right training, tools, and processes, you can protect your business from falling victim. Cybercriminals rely on exploiting trust and urgency – empower your employees to spot scams and act cautiously.

Need Expert Help?

If you’re concerned about email security or want a proactive cyber security strategy to safeguard your business, we’re here to help.

Get in touch with us today to secure your systems and train your team to stay vigilant.

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