
A spear phishing hacking group, working out of the United Kingdom and Nigeria, has been using business email compromise (BEC) scams and have stolen more than $12 million.
This group targeted small and midsize businesses from various industry groups such as manufacturers, hotels, universities, cloud service operators, and so on.
BEC scams have caused more than $12 billion in losses since 2013, and the threat is increasing in terms of exposed losses.
The destination banks are usually located in China, Hong Kong, UK, Mexico, and Turkey.
Scammers use the IRS W-2 forms and other Personally Identifiable Information (PII) requests to build their campaigns.
Year-end enrollment is one of major sources of PII requests.

Ascent InfoSec
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Businesses are proactively deploying cloud-based BEC solutions for remotely protecting end users from phishing emails. Enterprises are seeking cloud-based BEC solutions to enable cost-effectiveness, rapid deployment, and on-demand access to expertise for mitigating advanced threats on email platforms. Small and medium-sized companies often rely on cloud BEC security from providers. By region, North America to hold the largest market size during the forecast periodNorth America is estimated to account for the highest market share in the BEC market. These regulations play an important role in promoting the adoption of BEC solutions and services among end users.
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3% during the forecast periodBusiness Email Compromise Market OverviewThe Business Email Compromise Market research identifies industry-specific challenges, opportunities, and technological advancements that can help Business Email Compromise key competitors increase revenue and growth. com/request-sample/188537 Business Email Compromise Market Report Scope and Research MethodologyThe report provides a detailed analysis of the Business Email Compromise market size and share at global and regional levels. It focuses on the factors that affect the Business Email Compromise market, such as gross margin, cost, market share, capacity utilization, and supply. com/market-report/business-email-compromise-market/188537/ Key Questions answered in the Business Email Compromise Market Report are: What is Business Email Compromise? Contact Maximize Market Research:MAXIMIZE MARKET RESEARCH PVT.
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gogo 2022-11-30

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Sizing and ForecastThe business email compromise market size has grown rapidly in recent years. The business email compromise market size is expected to see rapid growth in the next few years. The regions covered in the business email compromise market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, AfricaIntrigued to explore the contents? Cloud-based email services enhance business email compromise (BEC) protection through integrated advanced security, centralized monitoring, and scalability, creating demand for specialized business email compromise prevention solutions and services. Therefore, increasing adoption of cloud-based email services is driving the growth of the business email compromise market.
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Ariya Rathi 2022-03-01

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