Symantec: BEC Threat Now Hits 400+ Firms Per Day

According to Symantec nearly 40% of victims are SMEs, with the next biggest target the financial sector (14%).

By Phil Muncaster

Over 400 companies are targeted by so-called Business Email Compromise (BEC) scams every day, with at least two employees per business hit with an email, according to new data from Symantec highlighting a worrying rise in such threats.

BEC, also known as CEO-fraud or whaling, is a pretty low-tech scam in which a member of the finance team is usually targeted with an email spoofed to come from the CEO or CFO and requesting the transfer of corporate funds into a third party account.

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