Business Email Compromise (BEC)
A sophisticated scam targeting businesses that regularly perform wire transfers or handle sensitive data. Attackers compromise or impersonate executive email accounts to authorize fraudulent payments or data transfers.
Extended Explanation
BEC attacks have caused billions of dollars in losses globally. Unlike traditional phishing, BEC often involves no malware or malicious links. Instead, attackers rely on social engineering, requesting wire transfers or sensitive data through seemingly legitimate email conversations. The FBI consistently ranks BEC as the costliest form of cybercrime.
Related Terms
Email Spoofing
phishingThe forgery of an email header so the message appears to originate from a trusted source. Email spoofing is used in phis...
Impersonation
social-engineeringThe act of pretending to be another person to deceive victims into trusting the attacker. In cybersecurity, impersonatio...
Spear Phishing
phishingA targeted phishing attack directed at specific individuals or organizations. Unlike generic phishing, spear phishing us...
Whaling
phishingA spear phishing attack specifically targeting high-ranking executives such as CEOs, CFOs, or board members. These attac...