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New tactics aimed at business executives and users are being used to reap greater reward from email based fraud, which continues to rise, researchers said.
Cybercriminals are boosting their game and employing new tactics to move up the chain of command with more sophisticated business email compromise (BEC) threats that pose a greater threat to organizations, according to a new report.
Advanced BEC attacks–including impersonation attacks and CEO fraud–showed a steady increase in the first quarter of 2019 and are projected to rise through the second quarter, according to the most recent Email Threat Report from security firm FireEye.
While consumers mainly use their devices and various messaging apps to communicate, business users still predominantly use email. Cyber criminals are taking great advantage of this by impersonating executives, senior managers and supply-chain partners to dupe employees into authorizing fraudulent wire transfers or providing confidential information that can be used to defraud companies, FireEye researchers said.