Skip to content

At The Identity Organisation, we're here to help!

    Your privacy is important to us, and we want to communicate with you in a way which has your consent and which is in line with UK Law on data protection. As a result of a change in UK law on 25th May 2018, by providing us with your personal details you consent to us processing your data in line with current GDPR requirements.

    Here is where you can review our Privacy & GDPR Statement

    To remove consent at any time, please e-mail with the word "unsubscribe" as the subject.

    +44 (0) 1628 308038

    Nearly Three-Quarters of Organizations Were the Target of Attempted Business Email Compromise Attacks

    New data highlights just how dangerous Business Email Compromise attacks are.

    Business Email Compromise (BEC) attacks often don’t get the press they require; these attacks utilize a heavy dose of social engineering to spoof company email accounts and impersonate individuals within an organization.  And it’s the simplicity of the attack that makes it seemingly uneventful and lack excitement… that is, until you realize the majority of organizations are experiencing it.

    This is the detail we learn quickly when reading Arctic Wolf’s The State of Cybersecurity: 2024 Trends Report – 70% of organizations reported being the target of a BEC attack within the last 12 months. The breakdown of this 70% is equally interesting:

    • 21% of organizations detected and stopped the attack
    • 29% were victims of “one or more successful isolated BEC occurrences”
    • 20% fell victim to at least one BEC attack “as part of a larger compromise”

    It’s also important to note that, according to Arctic Wolf, BEC attacks made up 29.7% of their incident response engagements in 2023, second only to ransomware attacks.

    I want to go back to that “part of a larger compromise” statement from the report. That added clarification really got my attention; BEC attacks are rarely the actual attack – they are the staging for fraud, island hopping, credit card/gift card scams, and more.  And *that’s* why BEC needs more attention.

    All of this new data should come as no surprise, as we’ve already seen massive increases in BEC attacks attributed to the improvements in malicious use of generative AI.

    And while phishing seems to receive the lion’s share of attention in the news, BEC is extremely damaging to its’ victims – to the tune of $2.4 Billion last year – making it imperative that all employees be educated, through security awareness training, to look for and spot impersonation within email to grow that 21% of orgs that stopped a BEC attack before it could do any harm.

    KnowBe4 empowers your workforce to make smarter security decisions every day. Over 65,000 organizations worldwide trust the KnowBe4 platform to strengthen their security culture and reduce human risk.

    Free Phishing Security Test

    Would your users fall for convincing phishing attacks? Take the first step now and find out before bad actors do. Plus, see how you stack up against your peers with phishing Industry Benchmarks. The Phish-prone percentage is usually higher than you expect and is great ammo to get budget.

    Here’s how it works:

    • Immediately start your test for up to 100 users (no need to talk to anyone)
    • Select from 20+ languages and customize the phishing test template based on your environment
    • Choose the landing page your users see after they click
    • Show users which red flags they missed, or a 404 page
    • Get a PDF emailed to you in 24 hours with your Phish-prone % and charts to share with management
    • See how your organization compares to others in your industry

    PS: Don’t like to click on redirected buttons? Cut & Paste this link in your browser:

    Sign Up to the TIO Intel Alerts!

    Back To Top