Business Email Compromise: A Global Threat

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Fighting Fraud By Finding The Gaps

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Business email compromise, or BEC – defined as a fraud tactic using email to socially engineer an employee to install malware or unwittingly transfer/redirect funds into a fraud operator’s account – is an increasingly sophisticated and elusive fraud tactic. According to the FBI, BEC is a $2 billion a year business.

To validate payments before a loss can occur, GIACT — the leader in helping companies positively identify and authenticate customers—released a new report, Business Email Compromise: A Global Threat, on how well-organized cybercrime operations are evolving BEC schemes.

What You’ll Learn:

  • How fraud operators are using malware and other tactics to hack into email servers to enhance their traps and their ability to social engineer their victims
  • The evolution of BEC tactics and how businesses are being defrauded
  • How businesses can proactively validate account information using real-time, diverse data sets, before a potentially fraudulent payment is disbursed