3 Types of Business Email Compromise Scams

Among 11 South East Asian countries, Singapore recorded the highest number of Business Email Compromise scams in 2018, with an average of S$177,000 lost per scam.

BEC attacks deceive company executives into handing over data, system access or funds willingly.

3 Types of Common Business Email scams :

1. CEO Fraud

The attacker either hacks or spoofs an executive’s email address. The email exploits the executive’s authority to solicit an “urgent” bank transfer. 

2. Bogus Email Scheme

The sender impersonates a trusted vendor or supplier to send you a fake invoice. The message contains a new location where you are instructed to transfer the money.

3. Payment Request

An employee’s email address is hacked, then used to request bank transfers from vendors, suppliers and customers identified in his or her address book.

Learn how to identify BEC scams

With proper education on how to identify these scams, you can save your organisation from losing precious business data and funds.

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