In 2019, Business Email Compromise (BEC) attacks β a long-standing cybersecurity threat β accounted for $1.7 billion in losses, with cybercriminals using new tactics and techniques to carry out existing attacks. As cybercrime spikes in the wake of COVID-19, BEC’s toll is expected to rise this year. The Federal Bureau of Investigation (FBI) recently issued a warning to businesses on the growing threat of BEC attacks using the pandemic as a backdrop for unusual requests like payments to a βnewβ vendor or a change of account information.
Source:: SecurityMagazine