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The next time a client or vendor emails you to initiate a payment or change payment instructions, slow down. Do you know the request is legitimate? Even if the email seems genuine, you should stop to consider if your client or vendor could have been victimized in a business email compromise (BEC) scheme.

BEC is a type of cybercrime in which fraudsters use email to defraud a business. These types of attacks are costly to businesses and increasing in number. According to an FBI report, there were 241,000 BEC attacks recorded from 2016 to 2021. Those incidents cost victims more than $43 billion.¹ Additionally, global cyberattacks increased 38% in 2022 compared to 2021, according to Check Point Research.²

Protecting your business starts with education. In this article, learn what business email compromise is and some steps you can take to help prevent a monetary loss if you, your clients or your vendors are targeted.