The Million Dollar CEO Fraud: Anatomy of a Business Email Compromise

September 25, 2023 at 5:15:00 p.m.

In 2021, Business Email Compromise (BEC) scams led to roughly $2.4 billion in global cyber losses, compared to $49.2 million from ransomware. Yet, many still believe that ransomware is the biggest threat facing their business. This talk details a real incident I handled where a BEC culminated in a small business losing almost 1 million dollars. I will tie the incident to the MITRE ATT&CK Cloud Matrix, detail common indicators of compromise for BECs, and provide technical and administrative controls to manage risk around BECs. This talk will provide you with the motivation and tools to convince your organization to better protect itself against this increasingly common and severe attack