Security Awareness – Cybercrime Recruiting for BEC Accomplices

Although ransomware incidents persistently make international headlines, Business Email Compromise (BEC) is still a global menace and may become more difficult to detect. In 2020, BEC cost U.S. businesses $1.8 billion and represented 43 percent of all cybercrime losses for the year. Researchers at the cybersecurity firm Intel 471 recently observed actors on multiple cybercrime forums seeking partnerships with other criminals to engage in BEC attacks. Typically, BEC attacks require the use of social engineering tactics to trick a potential target, alongside some prerequisite technical capabilities. Therefore, technically proficient cybercriminals are actively recruiting English-speaking accomplices to create the social engineering portions of a BEC attack. There are many steps for organizations to consider to protect against BEC attacks. For mitigation steps, visit Intel471.