Business Email Compromise: How to Protect Your Company
In today’s digital-first world, email is essential for business communication — but it’s also a prime target for cybercriminals. One of the fastest-growing threats businesses face is Business Email Compromise (BEC).
Understanding what it is and how to prevent it can mean the difference between maintaining trust — or suffering a major financial and reputational loss.
What is Business Email Compromise?
Business Email Compromise is a targeted phishing attack where a scammer impersonates a company executive, supplier, or trusted partner to trick employees into transferring funds or sharing sensitive information.
Unlike traditional phishing, BEC is often personalized and sophisticated, making it much harder to detect.
Common tactics include:
Spoofed email addresses that look nearly identical to real ones
Impersonation of CEOs or executives (sometimes called "CEO Fraud")
Fake invoices from trusted vendors
Requests for urgent wire transfers or gift card purchases
According to the FBI, BEC attacks have resulted in billions of dollars in losses worldwide — and companies of all sizes are at risk.
7 Precautionary Steps to Protect Your Company
1. Implement Multi-Factor Authentication (MFA)
Require MFA on all email accounts, especially for executives and finance teams. This adds an extra layer of security even if a password is compromised.
2. Train Your Employees Regularly
Offer training sessions to help employees recognize red flags like unexpected payment requests, urgent tone, or unusual email addresses. Awareness is your first line of defense.
3. Verify Before You Act
Establish a strict verification process for any financial transactions. Encourage employees to call — using a known number, not the one provided in the email — to confirm requests.
4. Monitor Email Rules and Logins
Cybercriminals often set up hidden forwarding rules or login from unusual locations. Regularly audit email accounts for unfamiliar rules or suspicious activity.
5. Use Advanced Email Security Tools
Invest in email security solutions that can detect spoofed emails, phishing attempts, and domain impersonations.
6. Lock Down Executive and Finance Accounts
Executives and finance employees are frequent targets. Apply stricter access controls, privileged account monitoring, and real-time alerts on their accounts.
7. Create a Clear Incident Response Plan
Even with the best precautions, no system is foolproof. A fast, organized response can minimize damage. Ensure your team knows exactly who to contact and what steps to follow if they suspect a BEC attempt.
Reference Links
FBI Public Service Announcement about business email compromise from September 2024
Internet Crime Reporting Center