A Nigerian national has pleaded guilty to participating in a business email compromise scheme that stole $1.25 million from a Boston investment firm. Perpetrators used malware to intercept an employee's emails as well as spoofed email accounts to trick the employee's London financial services firm.
Cybercriminals may be using a generative AI tool called WormGPT to create convincing phishing emails to support business email compromise attacks. A new survey shows that 1 in 5 people fall for the fake, AI-generated emails, according to cybersecurity researchers.
Apart from some of the threats surrounding AI, this emerging technology can help defenders formulate effective policies and controls to prevent and mitigate BEC scams. With the evolving threat landscape, harnessing AI becomes crucial in defending, said Johan Dreyer, CTO at Mimecast.
Granting third parties access to sensitive data introduces inherent risks that organizations must address effectively. So how does an organization best manage that third-party risk while balancing an organization's inherent need for usability?.
Phishing attacks have come a long way from the spray-and-pray emails of just a few decades ago. Now they’re more targeted, more cunning and more dangerous. And this enormous security gap leaves you open to business email compromise, session hijacking, ransomware and more.
Join Roger Grimes, KnowBe4’s...
This Expel Quarterly Threat Report (QTR) delivers intelligence you can put into play today on some of the most active attack vectors our SOC leadership team observed in the first quarter of this year. By sharing how attackers got in, and how we stopped them, we’ll translate the security events we detect into...
Understanding and Defending Against AI-Generated Email Attacks
ChatGPT. Google Bard. DeepFaceLab.
Generative AI is all the rage, and for good reason. What used to take hours can now be done in minutes, and what used to take minutes can be done in seconds. Which is great for productivity in the right hands.
But...
U.S. federal prosecutors unsealed indictments Wednesday against six Houston-area men for an alleged six-month spree of business email compromise thefts adding up to nearly $6 million. Business email compromise is a mainstay of social engineering fraud.
A large-scale phishing-as-a-service operation is shifting tactics to allow attackers to avoid anomaly detection by using localized IP addresses, warns Microsoft. The U.S. Secret Service has reported that BEC incidents cost global enterprises more than $43 billion in losses over a five-year span.
While historically the origin of most business email compromise (BEC) attacks has been West Africa, residing in Nigeria certainly isn’t a requirement for BEC attackers. Indeed, the subject of this report is a sophisticated threat group based in Israel.
The group is unique in that they impersonate executives and...
Every year, threat actors look for new tactics to outwit victims and bypass defenses. And 2022 was no different. As businesses rolled out new security controls, cyber criminals found new, sophisticated ways to attack people.
In our ninth annual State of the Phish report, we dive deep into complex new techniques...
Email is your most essential business tool—and today’s top malware delivery vector. This vital communications channel has become fertile ground for today's most damaging cyber threats and all kinds of fraud. Because email threats inherently target people, an effective cybersecurity program focuses on people first....
As you undergo changes in your environment, including expanding to the cloud even more, your attack surface gets wider. And you still need to know what’s happening – everywhere, all the time.
Whether you’re new to the cloud or deep into your migration, the cloud is, well, cloudy. The fact is, keeping up with...
Cybersecurity is forever a growing concern for organisations of all sizes. The challenges include a spike in threats, the evolving technology landscape that increases the threat surface, the impact of regulation, too many isolated point products, and a lack of skills and budget for adequate defence.
Companies are...
Over a five-year span, reported BEC incidents cost global enterprises more than $43 billion in losses. This trend has the attention of the U.S. Secret Service. Agents Kevin Cooke and Abigail Tyrrell discuss why law enforcement partnerships and speed of response are more critical than ever.
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