BEC attacks lead to billions in fraud

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Business email compromise (BEC) – or spoofing – attacks are becoming increasingly common. According to the FBI in the US, BEC incidents have resulted in at least $26 billion in global losses since 2016.

The attacks typically involve social engineering and phishing emails to trick employees or senior executives into revealing credentials or making fraudulent transactions.



The risk of litigation increases
Many data breaches today trigger regulatory action, fantuan database but can also trigger litigation from affected consumers, business partners and investors. In this case, legal fees can significantly increase costs.



M&A can bring cyber problems
Cyber ​​incidents have also emerged as a hot topic in mergers and acquisitions (M&A) following several major data breaches. For example, the 2018 Marriott breach was traced back to a 2014 breach at Starwood, a hotel group that was acquired in 2016.

Even the most protected companies are at risk when they acquire a company with weak cybersecurity or existing vulnerabilities. The acquiring company can be held liable for damages caused by incidents that occurred before the merger.