January 9, 2024 – According to Fortra’s 2023 Business Email Compromise Report, business email compromise (BEC) cost businesses $2.7 Billion last year. That’s up almost a billion dollars from the FBI’s 2020 Internet Crime Report that stated over $1.8 Billion was lost to BEC.
This is a serious problem for every company using email. And it needs to be addressed. That’s why Infinity, Inc. is hosting an expert discussion for business owners on Wednesday, Jan. 17 called ‘How to Shut Down Business Email Compromise Before It Strikes.’
“Business email compromise used to be called CEO fraud,” says Infinity CEO Chuck Brown, “because attacks typically came through as emails impersonating the CEO or other executives to authorize a fraudulent wire transfer. Now they can come through as a vendor asking to change a payment date or someone in Accounting claiming to update payment routing information. These attacks are insidious and effective. But there are protections you can put in place, and that’s what we want to help our business community do.”