What is Business Email Compromise? Business E-mail Compromise, or BEC, is a sophisticated fraud scheme in which fraudsters compromise a legitimate e-mail address through social engineering or computer intrusion, and then use this e-mail to conduct unauthorized transfers. The compromised e-mail will often have the name or domain changed by one letter (e.g. jondoe@abc. com instead of firstname.lastname@example.org), or the actual e-mail account will mimicked by using a fraudulent forwarding e-mail address. Using malware, the fraudster may access previous e-mail correspondence within the organization in order to understand how wire requests are typically requested, and then mimic this protocol to complete the fraud.Read Post
For businesses of all sizes, it’s getting increasingly difficult to prevent data from being compromised. Watch this webinar to learn how you can stay ahead of the curve and protect your organization. Boston Private’s Chief Risk Officer, Tom MacDonald, CFA moderates with special guest speaker and former FBI agent, John Mulvaney, CPA, CFE.Read Post
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