Business Email Compromise (BEC) attacks can be financially more damaging that ransomware, for small businesses. These attacks have continued to increase, targeting all sizes of business in many industries. It is estimated that businesses have paid out over $5 billion in this fraud category in just four years. BEC attacks are also known as CEO impersonation attacks. Basically, these schemes compromise business email accounts to conduct unauthorized fund transfers. The attacks are often made by highly sophisticated cyber-crime organizations that use spear-phishing, social engineering, and malware to attack a business’ network. The criminal impersonates the CEO or other senior manager and gains the access and trust of an employee to send wire transfers to the criminal. The funds are quickly laundered by the criminal organization. Recovery of the funds is difficult and often unsuccessful, with devastating impact to the attacked business. For more information and a great infographic on this cyber-crime, check out this FBI page.
Workshop Details Workshops will be held in coming weeks, sponsored in collaboration with the FBI, United States Secret Service, Multi-State Information Sharing and Analysis Center (MS-ISAC), National Health Information Sharing and Analysis Center (NH-ISAC), Research and Education Network (REN-ISAC), Retail Cyber Intelligence Sharing Center (R-CISC), and Symantec.
Cybersecurity experts from the FBI, US Secret Service, and private sector are scheduled to share experiences and expertise regarding BEC. They will discuss why you should be concerned and how you can protect against becoming the next victim.
Workshop Locations Akron, OH | October 25, 2017 Boston, MA | November 03, 2017 Dallas, TX | TBD Denver, CO | October 27, 2017 Kansas City, MO | November 07, 2017 Los Angeles, CA | November 08, 2017 Nashville, TN | October 30, 2017 New York, NY | TBD Phoenix, AZ | October 26, 2017
About the Author - Carolyn Schrader is a seasoned cybersecurity professional and founder of the Cyber Security Group Inc., providing corporate cybersecurity services to high profile clients.
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