While businesses are busy trying to protect themselves against ransomware attacks that spark headlines news, threat actors are sticking to one of the oldest and most effective hacking techniques—business email compromise (BEC).
Enterprise security has skewed toward ransomware in recent years, but FBI data highlights that enterprises in aggregate are losing 51 times more money through BEC attacks. In 2021, BEC attacks in the US caused total losses of $2.4 billion, a 39% increase from 2020. In contrast, at the same time, companies in the US lost only $49.2 million to ransomware.
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