Close to $2 billion Lost to BEC Scams

Business Email Compromise (BEC) scams surpassed US$1.86 billion in losses in 2020. BEC is the costliest types of cybercrime according to the 2020 Internet Crime Report by the Federal Bureau of Investigation (FBI).

BEC Attacks Account for Losses 64 Times Worse Than Ransomware

What is Business Email Compromise (“BEC”)?

BEC creates different types of attacks such as CEO fraud or impersonation to a third party. All these have in common the compromise of an email account or email accounts in your email domain, which is then leveraged to steal money through fraudulent transfer of invoices, dissemination of malware, or theft of confidential data. As the email address is legitimate, these attacks have a high rate of success for the threat actors and often fool colleagues and partners alike. In one of our cases, the threat actor passed several payment notes to the victim’s banks and stole more than $10M over a month and a half. 

 

Investigation of Business Email Compromise

LIFARS can assist your business in capturing the important artifacts and data such as fraudulent emails and documents, security and activity logs, and any other information of relevance to the case. Based on that information and using investigative techniques recognized as forensically sound by courts and agencies, LIFARS will: 

Determine the “what”, “when”, “where”, “who” and “how” of the attacks, provide all the context you need to react and respond to the incident.  

  • If required, draft affidavits and documents for use in court or relevant agencies and be available for expert witness testimony. 
  • Keep you informed of the new developments and findings, and will assist you in making the right decisions to prevent further harm. 
  • Provide a report and recommendations to ensure consistent cyber hygiene against these attacks. 

For more information: 

Click to download our BEC brochure

Click to download the 2020 FBI IC3 Report

 

 

Why LIFARS? 

We provide proprietary IOC’s and TTPs not available to your SOC. 

  • Enhancement of your security team’s capabilities to get more value from your existing SOC. 
  • Provide response to address your high and critical security alerts from our experienced forensics experts and incident response teams. 
  • Optimized visibility into the nature of your alerts within the network. 
  • Greater visibility into your network and pattern of threats you face, we can provide valuable insights on ways to improve your overall security posture. 

 LIFARS Information Security and Risk Management Certifications 

C|CISO | CCFP | CRISC | C|HFI | CGEIT | OSCE | CIPP | OSCP | C|EH | CISM | CREA | CISA | GXPN | CISSP | C|EI | GCFA | GWAPT | CCDP | EnCE | CCNP | PMP | SCJP | ITIL | PCIP | KLCP | CCNA | ACE | OSWP 

If your organization has been hacked, contact LIFARS immediately 

CALL TODAY! +1 212 222 7061 

 

To learn more about our Ransomware Protection Package, contact one of our Cyber Resiliency Experts today!