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Business email compromise scam costs Pathé $21.5 million

Recently released court documents show that European-based cinema chain Pathé lost a small fortune to a business email compromise (BEC) scam in March 2018. How much? An astonishing US$21.5 million (roughly 19 million euros). The attack, which ran for about a month, cost the company 10 percent of its total earnings. What is business email compromise? Business email compromise is a type of phishing … [Read more...]

Four-Step Swindle: The Anatomy of a Business Email Compromise Attack

This week, we continue our series on Business Email Compromise. Click here to read Part 1, which includes an overview and various statistics on this growing threat. It takes time and effort to launch a successful Business Email Compromise (BEC) attack. In a typical attack, several messages are exchanged in an attempt to convince the target to authorize large payments to the attacker’s bank … [Read more...]

How to create a sticky cybersecurity training program

Organizations know that training employees on cybersecurity and privacy are not only expensive but time-consuming. However, given that current threats are targeting businesses more than consumers, introducing and teaching cybersecurity and privacy best practices in the workplace has undoubtedly become an absolute must. Creating a successful training program is a massive undertaking. It doesn’t … [Read more...]