When looking at all the different ways that hackers can threaten networks and enterprises, flashy incidents like ransomware scams often come to mind. But a relatively new kind of attack called business email compromise (BEC) has taken the lead in both frequency and overall damage, quickly becoming public enemy number one.
According to the FBI’s recently released 2019 Internet Crime Report, the most destructive cybercrime for 2019 involved the dual threats of business email compromise and email account compromise, which were grouped into a single category. When a private individual falls victim, the FBI calls it email account compromise. When a business suffers the same fate, it’s called business email compromise.