Ransomware may get all the headlines, but business email compromise attacks, in which careless end users are fooled into sharing sensitive information or making fraudulent money transfers, are even more lucrative. Indeed, according to Trend Micro, the average return on a ransomware attack is 1 bitcoin, or about $766 at current exchange rates. The average BEC attack, by contrast, nets an attacker $140,000.
BEC scams are easier to perpetrate successfully too, because they don’t involve malicious payloads that a hacker must write and a security system can potentially detect.
“Companies must implement stringent policies for normal and out-of-the-ordinary transactions, which include layers of verification and thresholds for large sums requiring more validation, before executing transfers,” Trend Micro writes.
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