Security Alert: Rising Threats to Business Email Accounts
Email is a cornerstone of modern business communication, but as the saying goes, “with great power comes great responsibility.”
As a business owner, ensuring the security of your company’s emails is critical. It’s one of the most effective ways to safeguard sensitive business data from falling into the wrong hands.
The Rise of Business Email Compromise (BEC)
Business Email Compromise, or BEC, is an increasingly serious threat. Falling victim to a BEC attack can result in significant financial and reputational damage.
So, what exactly is a BEC attack?
In simple terms, it’s a scam where cybercriminals impersonate high-ranking individuals in your organisation—think CEOs, executives, or IT personnel. Their goal is to deceive employees into sharing confidential information or transferring funds. Alarmingly, nearly 90% of BEC scams use this impersonation strategy.
It’s easy to see how an employee, trusting the sender, might respond quickly without questioning the request.
BEC attacks have surged this year, particularly in the third quarter. Researchers analysing 1.8 billion emails globally uncovered a staggering 208 million malicious emails. Of these, 58% were BEC attempts, making them the leading email-based threat to businesses today.
Who Is Targeted?
Interestingly, BEC scammers often target lower-level employees, as they may be less likely to challenge authority or recognise cyber threats.
While BEC attacks dominate, they’re not the only danger. Scammers also rely on other tactics like phishing and commercial spam to trick employees into revealing sensitive data such as login credentials. Collectively, these scams now pose a greater risk to businesses than traditional ransomware and malware attacks.
Protecting Your Business Is Simple and Affordable
The good news? It’s neither difficult nor expensive to secure your business against email threats.
Start by educating your team. Train every employee to approach emails with caution. If an email requests sensitive information or urgent financial action, your staff should pause and verify before proceeding.
Need tailored advice to strengthen your business’s email security? Contact us – we’re here to help keep your organisation safe.
