Scammers and cyber criminals have a range of tricks up their sleeves to undertake to get financial or personal information from their victims. One scam targeted at organizations is the Business Email Compromise (BEC). Also referred to as Email Account Compromise (EAC), CEO fraud, or whaling, this sort of scam sends a fraudulent email to someone in an effort to convince that person to share or reveal financial or personal information. A study released highlights the newest trends on this sort of scam and offers advice on how organizations and employees and protect themselves from it.
A BEC scam can take a number of different forms. The fraudulent email might tempt its victim with an invitation to shop for physical or electronic gift cards. the e-mail could masquerade as a legitimate business message with an invitation to update your salary or direct time deposit account details. It could also invite your personal or work telephone number to give further instructions.
How can BEC emails be identified? One clue lies within the subject line of the email. BEC scams aimed toward businesses within the UK and also the U.S. mostly had subject lines with the word "IMPORTANT." Most BEC scams targeted at Australia, Spain, France, and Germany had payment-related subject lines like "PAYMENT," "NOTIFICATION OF PAYMENT RECEIVED," and "PAYMENT DUE 8 DEC."
BEC emails also use common keywords within the body of the message. most of the keywords are designed to draw your attention or suggest a way of urgency associated with something financial. Some keyword examples are: "Transaction request," "Important," "Urgent," "Payment," "Outstanding payment," and "Notification of payment received."
Over the past 12 months, BEC scammers have typically used or spoofed popular free web mail services from which to send their fraudulent messages. Gmail, AOL, Yahoo! Mail, and Hotmail are among the highest 10 email domains used and abused by these scammers.
BEC scams have often hacked or spoofed the e-mail accounts of a business's CEO or CFO, sending fraudulent emails to the finance department in an effort to trick employees into making wire transfer payments. But as scammers adopt AI (AI) and machine learning (ML), these sorts of fraudulent emails could become even more convincing, consistent.
As one example, a scammer using AI or ML could target a senior financial executive or employee with access to the CEO and therefore the ability to authorize money transfers. To verify the request for money, the scammer could use audio of the CEO during a call to convince the worker that the CEO is really on the road ordering the transfer.
To know more about tricks used by scammers, you can always contact Verizon email Support and get advice and solution of various Verizon email problems. Also get your Verizon email settings configure for better performance.