Business Email Compromise – What You Need to Know
by Braedon Swindler
Business Email Compromise – Important Things to Know to Protect Your Business Assets
Business email compromise is a common, popular scam that takes place online. Ultimately, this can occur anywhere in the world – all you need is an internet connection and a pre-exisiting email setup. Hence, scammers can often use this method in a variety of harmful ways.
Typically, a business email compromise (BEC) scam is a scammer playing the role of a company executive or another business role. Often, the business doesn’t exist, and the domain is purchased for the sole purpose of scamming businesses and individuals. The scammer will then ask for money or private information under the guise of this falsified company or role.
How Does a Business Email Compromise Scam Work?
Business email compromise scams can start in a number of ways. Typically, an individual will inadvertently download some type of malware onto a host computer. This is often done through a malicious email link or a spam/phishing email sent to the user. Unfortunately, these emails can be to spot.
Sometimes, the email can look official. This makes it even harder to figure out if the email is malware – but it is extremely important to differentiate. If not approached carefully, malware can give the scammer access to passwords, emails, documents, or other assets.
In some cases, a scammer can actually monitor the activity of a business for a period of time. Then, they figure out patterns in the way that a business operates or the type of language/jargon often used. Afterwords, the scammer will send an email which is made specifically for your business in your business’s language.
To learn more about the risks, warning signs, and targets of Business Email Compromise (BEC scams), check out the official FBI page.
Is There Anything You Can Do To Stop The Scammers?
Sadly, internet scammers and phishers have gotten extremely advanced. Yet, there is still a fighting chance for businesses. One way to fight back is to ensure secondary verification of any payments or requests for information. This helps to confirm that you’re not sending your assets to unknown places.
Additionally, it is strongly recommended to use commercial Antivirus and Antispyware products on your computer. As an IT Consulting company in West Chester, PA, we know some of the best options. Hence, let us or another local IT Company help you make the choice on a trusted program.
Finally, it is important to create complex passwords for your programs. Ultimately, these passwords will help you to stay safe online or in your offline programs. Plus, be sure to change your passwords regularly. Further, try to use different passwords for different accounts. That way, if one program gets infiltrated, the rest of your assets remain unharmed.
Still have questions about your business security? Contact our team to learn more.