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What is BEC Fraud?

“BEC” stands for Business Email Compromise, which is a type of cyber fraud that targets businesses and organizations.

BEC fraud typically involves an attacker impersonating a legitimate business partner or executive, such as a CEO or CFO, through email or other forms of electronic communication. The attacker may use a variety of tactics to trick the victim into transferring money or sensitive information, such as directing the victim to a fake website or providing false information about a business transaction or account.

BEC fraud can be difficult to detect and prevent, as the attacker may use sophisticated social engineering techniques and have access to accurate information about the target organization. Businesses and organizations can help protect themselves against BEC fraud by implementing security measures such as two-factor authentication, employee training and awareness programs, and strict verification processes for financial transactions and sensitive information.

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