Page 121 - Cyber Defense eMagazine September 2023

E-mail Compromise

How to protect business against BEC-attacks

By Sergio Bertoni, The senior analyst at SearchInform

Attacks via email is one of the most beloved cybercriminals’ method for compromise of organization’s
data.

Only during the 2022 the number of Business Email Compromise (BEC) attacks doubled, according to
the Computerweekly. What’s more, according to the IBM Cost of Data Breach Report 2022, business
email compromise and phishing attacks turned out to be the most expensive breaches, resulting in
$4.89mln and $4.91mln respectively. According to Research and Markets, the global BEC market is
expected to grow from an estimated value of USD 1.1 billion in 2022 to USD 2.8 billion by 2027, at a
Compound Annual Growth Rate (CAGR) of 19.4% from 2022 to 2027.

The senior analyst at SearchInform, Sergio Bertoni reveals, why BEC attacks are so popular and how to
protect against them.

Cybercriminals’ aims and implications for businesses.

A BEC attack is a social engineering attack that is aimed at compromise of a corporate mailbox. Before
the attack implementation, intruders gather information about the victim and the company the person

Cyber Defense eMagazine – September 2023 Edition 121
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