Business Email Compromise (BEC): The Billion Dollar Threat

BEC caused $2.7 billion in losses in 2022 (FBI IC3).

Common BEC Types

- CEO impersonation
- Invoice manipulation
- Attorney impersonation
- Payroll diversion
- Data theft requests

Red Flags

- Urgency and secrecy
- New payment details
- Slight email changes
- Unusual requests
- Pressure to bypass procedures

Prevention

- Verbal verification for payments
- Multi-person approval
- Email authentication (DMARC)
- Employee training
- Payment change protocols