What are the 4 common traits of a BEC scam?
What are the 4 common traits of a BEC scam?
- Payment – Important.
- Payment Notice.
- Process Payment.
- Quick Request.
- Fund Payment Reminder.
- Wire Transfer Request.
- Bank Transfer Enquiry.
What are BEC?
Business Email Compromise (BEC) is a type of scam targeting companies who conduct wire transfers and have suppliers abroad. Often, they impersonate CEO or any executive authorized to do wire transfers.
Who does a bogus invoice scheme impersonates?
3. Bogus Invoice Scheme. It’s when fraudsters impersonate suppliers and request payments for a new and fraudulent account. This scam is also known as Supplier Swindle, and Invoice Modification Scheme.
What makes an email suspicious?
The email is poorly written You can often tell if an email is a scam if it contains poor spelling and grammar. Many people will tell you that such errors are part of a ‘filtering system’ in which cyber criminals target only the most gullible people.
What is angler phishing?
Angler phishing is a new type of phishing attack that targets social media users. People disguise themselves as a customer service agent on social media in order to reach a disgruntled customer and obtain their personal information or account credentials.
What is spear phishing?
Spear phishing is a phishing method that targets specific individuals or groups within an organization. While phishing tactics may rely on shotgun methods that deliver mass emails to random individuals, spear phishing focuses on specific targets and involve prior research.
What’s the first thing you should do if you suspect Bec but aren’t sure?
If you suspect that you have been targeted by a BEC email, report the incident immediately to law enforcement or file a complaint with the IC3.
What is whaling in phishing?
Whaling is a highly targeted phishing attack – aimed at senior executives – masquerading as a legitimate email. Whaling is digitally enabled fraud through social engineering, designed to encourage victims to perform a secondary action, such as initiating a wire transfer of funds.
What is the difference between a start-up and an enterprise?
Often on forms, SME is down as covering 1-10 employees – I think you could pass a start-up off as an SME, but that would be a little disingenuous. A start-up isn’t an enterprise yet. It maybe has 1-3 people, no contracts, hopes and dreams, no clients. An enterprise is a business, albeit a small one.
What is the difference between SMEs and startups?
An SME starts out in a structured organisation that is focused on the delivery of value to known customers. An SME does not need to change nor is it structured to change rapidly. FUNDING: In order for startups to grow into a large disruptive enterprise, they seek additional funding by way of diluted equity.
What is the difference between a small business and a startup?
There is in that a small business is not necessarily a startup and a startup is not necessarily small. There are startups which will remain small over the years whilst there are also startups that are ‘big’ to begin with – take Karhoo who raised several hundred millions of dollars from day one and hired hundreds of staff.
What should I do if I think someone is scamming me?
If you think something is wrong or something is off, step back and speak to others, because they might share your suspicions and they might have some info you do not. If you do reach the painful conclusion that this is indeed a scam, confronting the person scamming you is ok; trying to reason with them is absolutely pointless.