Managed IT Services in Austin: The Emerging Threat of Business Email Compromise

Business email compromise (BEC) is on the rise. This term refers to malicious web-based behavior in general, yet every type of BEC has a common thread: access to the target’s business email account. BEC practices range from malicious individuals spoofing to transmitting fraudulent messages from business email accounts and beyond. Such messages are transmitted to everyone from business partners to employees, colleagues, etc. Once a business email is compromised, the criminal will extort the target to obtain as much money and information as possible. Our managed IT services team in Austin is here to prevent this outcome.

The Basics of Business Email Compromise

The evildoers behind business email compromise do not rest on their laurels. Such attacks are continuously refined to thwart common defenses. In fact, BEC attacks are transitioning to mobile, concealed as SMS texts. The bottom line is BEC attacks are on the rise and will likely continue to spike as time progresses. Such attacks prey on humans’ natural tendency to be social. The average person is willing to help another. The unfortunate side effect of this basic altruism is vulnerability to BEC attacks and other threats.

BEC attack types are varied. Those behind such attacks have an array of targets, from data to funds, ruining a target’s reputation and beyond. Internal account compromises are particularly common. This type of attack involves a hacker illegally logging into an employee business email account through phishing or credential stuffing. Once the system is breached, the hacker proceeds to steal records as well as valuable data. Lean on our managed IT services team in Austin for assistance and we will do everything in our power to prevent such a breach.

“Joe job” BEC attacks are also increasing in frequency. Joe jobs involve hacking into a target’s email or imitating that target by way of spoofing in order to transmit malicious emails to third parties. The aim of a joe job is for those receiving the message to flag them as spam and blacklist the domain or at least damage the target’s reputation. There are numerous other forms of BEC attacks including data theft. After all, certain data has considerable value on the black market, especially to competing businesses. However, stealing data does not have to result in a sale on the black market. It is also possible to steal credentials through a BEC attack that sets the stage to empty the target’s bank account in a subsequent attack.

We Can Help

At Contigo Technology, our managed IT services team in Austin is here to help with your IT needs. Whether you are worried about business email compromise, ransomware, or need assistance with another aspect of technology, our team can help. Contact us to learn more.