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Business Email Compromise (BEC) is something that can affect any business with an email address. It is a sophisticated scam targeting businesses working with foreign suppliers and/or businesses that regularly perform wire transfer payments1.
To educate business customers and members of the community, Emprise Bank brought in Tom Ensz from the FBI’s Cyber Security Unit. Ensz presented, “Understanding and Defending Your Business from the Threats of Business Email Compromises” to help attendees find out what BEC is and how to protect against it.
If you see data leaving, it’s too late. It’s important to accept the fact that technology can be breached, but the goal is to make it harder for cybercriminals to succeed in their malicious goals. Put up obstacles to your data and create layers of protection through passwords, anti-virus and anti-spyware software, and policies and procedures within your business.
It’s recommended to have policies and procedures in place to verify financial changes that are requested/processed out of the norm. If an email request for changes comes through from a customer, vendor, or even someone internally within your company, call the requesters back via phone using the information on record to confirm and verify changes.
If you feel your email account may have been compromised, check for new “rules” on your email accounts. Cyber criminals could easily set up your emails to auto-forward to them even after you change your password and attempt damage-control after a breach.