image credit: pxhere
According to the FBI’s 2021 Internet Crime Report, business email compromise (BEC) accounted for almost a third of the country’s $6.9 billion in cyber losses that year – around $2.4 billion. In surprisingly sharp contrast, ransomware attacks accounted for only $50 million of those losses.
In this Help Net Security video, Dror Liwer, Co-Founder of Coro, talks about what makes small and medium-sized businesses especially vulnerable to this form of attack and why BEC’s contribution to the country’s annual cyber losses not only makes sense but is likely underreported.
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