BUSINESS EMAIL COMPROMISE: A GROWING THREAT TO SOLICITORS
Businesses are facing a rapidly evolving and complex threat in the form of business email compromise (BEC), a form of cybercrimeinvolving malicious actors manipulating email communication to dupe individuals or organisations into sending money or sensitive data to the wrong person.
In recent weeks we have seen some high-profie retailers and Legal Aid Agency be the subject of a cyber-attack, with criminaltargeting customer and client personal information in exchange for ransomware payments. Whilst these types of attacks have hadsignificant impacts on the ood supply chain and personal information being compromised, there are other types of fraud that are back on the radar of criminals, that we all need to be aware of, that being BEC attacks.
BEC — also known as email redirection/misdirection fraud or payment diversion fraud — combines technical deception, socialengineering, and psychological manipulation. It is critical that businesses become aware of this threat and implement measures that help mitigate risks associated with it.
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