Business email compromise (BEC) attacks ramped up significantly in 2020, Cisco Talos Intelligence says. More than $1.8 billion stolen from organizations with these types of attacks last year alone. BEC attacks are carried out by cybercriminals either impersonating someone inside an organization, or masquerading as a partner or vendor. Smart users armed with skepticism of outside communications and the right questions to ask are the best line of defense, the report says. Gift card lures are by far the most popular in the attacks, Cisco says.
Source: https://threatpost.com/bec-losses-top-18b/167148/