Types of Fraud and Security Attacks

Understanding how fraud affects your business is an important step in preventing it. Learn more about the different types of fraud and security attacks below.

Business Email Compromise

What is Business Email Compromise?

Business Email Compromise/Email Account Compromise doesn’t rely on malware or viruses.  These types of attacks succeed by manipulating human behavior and weaponizing trust.  Most times these communications do not contain links or attachments and easily slip by traditional online security tools

How to Spot Business Email Compromise:

1. Verify the domain name – many times fraudsters will register domain names nearly identical to legitimate ones. Example: your-company.com vs your_company.com
2. Fraudsters create emails that appear to be coming from a legitimate source, such as a CEO or another co-worker. Be sure to verify the email address the message is sent from, not just the displayed name.
3. What time was the email sent/received? Is it out of normal business hours? Has the tone or communication style changed from previous email exchanges?
4. Do you feel pressured to comply? Many times, fraudsters attempt to create a sense of urgency causing you to act now, think later. Look for words like “Urgent”, “ASAP”, “Immediate”, or “Past Due”.
5. Have you been discouraged from verifying the request or communicating with someone outside of the email? Requests for secrecy or implied consequences can be a red flag of business/email account compromise.

What should I do if I suspect Business/Email Account Compromise?

• Stop communicating via email.
• Contact the sender using a trusted and verified phone number.
• Seek assistance from an IT professional to determine how the compromise occurred and implement security measures to prevent future attacks.