This lead to the creation of the BEC Taskforce in January 2020, which is aimed at responding to these growing threats. Meanwhile in Australia, the impact of BEC scams on victims is significant, with financial losses totaling more than $79 million in 2021. While ransomware tends to attract more notoriety, the FBI reported that BEC-related scams totaled $2.7billion in 2022, compared to just $34 million for ransomware. BEC is one of the most damaging and expensive types of phishing attacks in existence. Data shows an increase in the utilization of various types of archive file formats, as threat-actors attempt to conceal malicious payloads.īusiness email compromise (BEC) is a specific type of phishing attack, a spear phishing attack to be precise, with the objective being to trick employees into taking harmful actions, typically sending money to the attacker. In our latest 2023 cyber security report, we reported that the proportion of email-delivered-attacks (compared to web based attacks) has increased, reaching a staggering record of 86% of all file based in-the-wild attacks. Users are advised to remain cautious and be aware of links within any email, including those coming from known vendors and servicesĮmail is the leading deliverer of malware.PayPal and Google are the most impersonated services in these attacks.Avanan a Check Point Company sees a spike in emails impersonating legitimate firms and services in the past 2 months of February and March 2023.
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