Security News > 2024 > June > Business Email Compromise Attacks Are Evolving: How Organizations Can Stay Ahead of the Curve

While phishing emails can target individuals and businesses of all sizes, attackers may prefer to double down their aim at senior-level employees to increase their chances of catching a big bag.

Popularly known as business email compromise, this type of email scam, which often involves impersonating executives or other high-level officials to trick employees into transferring money or revealing sensitive information, is a growing threat today, costing organizations billions of dollars annually.

WHY BEC ATTACKS ARE ON THE RISE. BEC shows no signs of slowing down because it checks several boxes for cybercriminals - it's immensely lucrative, can be perpetrated remotely with little risk and doesn't require advanced technical expertise.

Several factors have fueled the proliferation of these pernicious attacks.

According to a report by Radicati Group, the total number of business and consumer emails sent and received will exceed 361 billion in 2024 and is projected to grow to over 408 billion at the end of 2027.

The report shows more businesses are adopting email as a tool for streamlining their workflow communications.

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