Business Email Compromise

Business Email Compromise (BEC) scam is a type of cybercrime that aims to trick individuals or companies into making fraudulent payments, disclosing confidential information, or initiating unauthorized wire transfers. BEC scammers typically use email spoofing to appear as legitimate senders and trick their targets into performing actions that benefit the attackers. According to the FBI, BEC is one of the most financially costly crimes, resulting in more than $13 billion in losses globally from October 2013 to July 2019.

Account takeover (ATO) protection is a type of cybersecurity solution that safeguards user accounts against unauthorized access by cybercriminals. ATO protection solutions use various authentication methods, such as two-factor authentication, artificial intelligence (AI), and machine learning (ML), to detect and prevent ATO attacks. By controlling access to sensitive information, ATO protection technology helps to prevent unauthorized changes, unauthorized monetary transactions and maintains the credibility and confidentiality of business information. In the context of BEC scams, ATO protection systems help to safeguard against attacks aimed at gathering login credentials to hijack email accounts and execute fraudulent payments.

BEC scammers use various techniques to target businesses, but the most commonly used technique is spear-phishing. Spear-phishing is a tactic that involves creating emails or websites that appear legitimate and trustworthy to the targeted users, making them more likely to click links, open attachments, and share confidential data. Sophisticated social engineering techniques are employed to convince a target of the legitimacy of these emails and sites. These emails and websites can be used to gather user login credentials, initiate fraudulent transfers or redirect financial data. The impersonation of high-level executives within an organization is also a recurrent strategy used by BEC actors.

Bolster is a digital risk protection platform that uses AI, ML, and natural language processing techniques to detect and prevent BEC scams. Bolster’s solution performs continuous, real-time internet scams across business domains and like domains, evaluates sender and domain reputations and risk levels, detects suspicious activity, and blocks potential fraud attempts. Bolster acts quickly to detect malicious account activity and misuse of your company or executive branding before fake accounts can actively deceive your audience. The solution can be deployed quickly to integrate with the business’ current workflow processes to provide extra security coverage where it is needed.

Bolster protects against various attack vectors, including phishing emails, links, malvertising, social engineering tactics, domains, and mobile app threats, and threats across 18 of the major social media platforms. Bolster delivers real-time threat analysis and machine learning for customers to protect against the latest and most complex threats, ensuring that businesses remain protected from the latest scams even as they evolve.

Enterprises worldwide reel under the challenge of brand impersonation, suffering monetary and reputational damages. Brand loss is driven by a proliferation of scams and counterfeit sites.

Bolster’s brand protection solution detects and takes down sites misusing your brand, including fake domains, third-party sites, unauthorized apps, and search engine results.

We use the most advanced AI technologies and automation to detect infringements in real-time to protect the sanctity of your brand identity.

BEC scam protection is necessary to help businesses safeguard themselves against cybercriminals and prevent financial losses. BEC scammers’ tactics are becoming more advanced and sophisticated, making it challenging for businesses to detect and prevent BEC attacks. According to the Federal Bureau of Investigation (FBI), BEC has resulted in global losses of over $12 billion since 2013. Investing in BEC scam protection solutions, such as Bolster, helps businesses detect and prevent BEC scams and stay ahead of these threats.