Business email compromise (BEC) is a type of phishing scheme in which a fraudster attempts to trick an employee into transferring money or sensitive data. Commonly, executives, high-level employees, or well-known business associates will have their email spoofed or compromised in order to request a wire processor to conduct a fraudulent transaction. This crime is particularly stealthy because it employs social engineering techniques to manipulate users.
BEC is on the rise — and it’s often difficult to prevent because it’s very targeted. So what do you need to watch out for? Read below to learn more.