{"id":60994,"date":"2024-07-18T12:19:54","date_gmt":"2024-07-18T19:19:54","guid":{"rendered":"http:\/\/www.enxmag.com\/twii\/?p=60994"},"modified":"2024-07-18T12:19:57","modified_gmt":"2024-07-18T19:19:57","slug":"seven-in-ten-organizations-experienced-a-business-email-compromise-attack-in-the-last-12-months","status":"publish","type":"post","link":"https:\/\/www.enxmag.com\/twii\/the-week-in-imaging-twii\/editors-blog\/2024\/07\/seven-in-ten-organizations-experienced-a-business-email-compromise-attack-in-the-last-12-months\/","title":{"rendered":"Seven in Ten Organizations Experienced a Business Email Compromise Attack in the Last 12 Months"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"alignleft size-medium\"><img loading=\"lazy\" width=\"300\" height=\"158\" src=\"https:\/\/www.enxmag.com\/twii\/wp-content\/uploads\/2024\/07\/KnowBe4-Graphic-300x158.png\" alt=\"\" class=\"wp-image-60995\" srcset=\"https:\/\/www.enxmag.com\/twii\/wp-content\/uploads\/2024\/07\/KnowBe4-Graphic-300x158.png 300w, https:\/\/www.enxmag.com\/twii\/wp-content\/uploads\/2024\/07\/KnowBe4-Graphic.png 394w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/figure><\/div>\n\n\n\n<p>Despite ransomware getting the lion\u2019s share of the tech pub headlines, business email compromise (BEC) attacks are alive and well\u2026and having a material impact.<\/p>\n\n\n\n<p>New data from Arctic Wolf\u2019s 2024 State of Cybersecurity report shows that BEC attacks \u2013 whether attempted or successful \u2013 are far more widely felt than previously thought. Just recently, I wrote about how a little more than a third of attacks are BEC, but the Arctic Wold report shows a much broader presence of these attacks.<\/p>\n\n\n\n<p>According to the report, 70% of organizations have experienced a BEC attack, with the breakdown of organizations as follows:<\/p>\n\n\n\n<ul><li>21% prevented the attempt<\/li><li>20% suffered the BEC attempt as part of a larger attack<\/li><li>29% were victims of one or more isolated BEC incidents<\/li><\/ul>\n\n\n\n<p>It\u2019s interesting to also note that Arctic Wolf \u2013 who provide response services to their customers who have suffered an attack \u2013 saw nearly one-third (29.7%) of their incident response engagements involve BEC attacks.<\/p>\n\n\n\n<p>And these kinds of attacks can rival, if not outshine, the dollar amounts associated with ransomware attacks. I recently covered a BEC attack that had the potential to see $130 million sent to a threat actor-controlled bank account. With average ransom payments hovering in the realm of \u201chundreds of thousands,\u201d BEC\u2019s potential for millions in losses is material and noteworthy by organizations intent on thwarting such attacks.<\/p>\n\n\n\n<p>New-school security awareness training is critical to teach employees \u2013 particularly those whose jobs involve the use of company funds \u2013 how to spot and mitigate scams before money is lost.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite ransomware getting the lion\u2019s share of the tech pub headlines, business email compromise (BEC) attacks are alive and well\u2026and having a material impact. New data from Arctic Wolf\u2019s 2024 State of Cybersecurity report shows that BEC attacks \u2013 whether attempted or successful \u2013 are far more widely felt than previously thought. Just recently, I wrote about how a little more than a third of attacks are BEC, but the Arctic Wold report shows a much broader presence of these attacks. According to the report, 70% of organizations have experienced a BEC attack, with the breakdown of organizations as follows: 21% prevented the attempt 20% suffered the BEC attempt as part of a larger attack 29% were victims of one or more isolated BEC incidents It\u2019s interesting to also note that Arctic Wolf \u2013 who provide response services to their customers who have suffered an attack \u2013 saw nearly one-third (29.7%) of their incident response engagements involve BEC attacks. And these kinds of attacks can rival, if not outshine, the dollar amounts associated with ransomware attacks. I recently covered a BEC attack that had the potential to see $130 million sent to a threat actor-controlled bank account. With average ransom payments hovering in the realm of \u201chundreds of thousands,\u201d BEC\u2019s potential for millions in losses is material and noteworthy by organizations intent on thwarting such attacks. New-school security awareness training is critical to teach employees \u2013 particularly those whose jobs involve the use of company funds \u2013 how to spot and mitigate scams before money is lost.<\/p>\n","protected":false},"author":178,"featured_media":60995,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[80,1650,82,1638],"tags":[4164],"_links":{"self":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/60994"}],"collection":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/users\/178"}],"replies":[{"embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/comments?post=60994"}],"version-history":[{"count":1,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/60994\/revisions"}],"predecessor-version":[{"id":60996,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/60994\/revisions\/60996"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/media\/60995"}],"wp:attachment":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/media?parent=60994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/categories?post=60994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/tags?post=60994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}