Even in today’s hyper-connected world, tried and true email remains the backbone of business communication. With this convenience, Business Email Compromise (BEC) — a sophisticated form of fraud that uses email impersonation to trick employees into transferring money, sharing sensitive information, or granting access to systems — has become one of the fastest growing threats to businesses of all sizes. In 2024 alone, businesses worldwide reported over $2 billion in losses due to BEC attacks. It’s important to understand what a business email imposter is, and more importantly, how you can protect your organization.
In 2024 alone, businesses worldwide reported over $2 billion in losses due to BEC attacks. It’s important to understand what a business email imposter is, and more importantly, how you can protect your organization.
What is a Business Email Imposter?
A business email imposter uses deceptive techniques to trick employees into taking damaging actions, such as wiring money, sending sensitive data, or clicking malicious links. These attacks may involve tactics like:
- Spoofing a CEO or CFO’s email address to request urgent wire transfers
- Posing as a trusted vendor asking for banking detail changes
- Impersonating HR to obtain confidential employee data
Unlike mass phishing emails that cast a wide net, BEC scammers do their homework. The emails appear convincing, often containing accurate names, job titles, and formatting that mimics real correspondence. They might hack real accounts to send convincing requests or target executives directly (which is called “whaling”), but they always aim to exploit your trust.
Why Are BEC Attacks on the Rise?
The frequency of BEC attacks has increased by 13% in the three years since 2020 and nearly doubled in 2023 compared to the previous year. BEC scams are increasing rapidly due to several key factors:
- Remote & Hybrid Work: More employees working from home means more digital communication and fewer in-person verifications.
- Weak Email Security: Many companies have not implemented proper email authentication protocols.
- Human Error: Employees are often unaware of phishing tactics or how to verify suspicious messages.
- Criminal Sophistication: Generative AI is creating more polished, personalized emails leading to a surge in BEC volume. Since the popularization of generative AI tools, BEC has gone from being only 1% of all cyber-attacks in 2022 to 18.6% of all attacks.
Common Red Flags of Email Imposter Attacks
Even savvy professionals can fall for BEC scams because attackers are skilled at crafting messages that feel authentic and urgent. Here are some of the most common warning signs to look out for and why they should raise immediate suspicion:
- Slight misspellings in domain names (e.g., @itsecure-now.com instead of @itsecurenow.com)
- Unexpected urgent requests for financial transfers or document access
- Emails that bypass usual procedures, such as asking to send payment details to a new account
- Requests to click unfamiliar links or download attachments from seemingly internal sources
- Emails sent outside normal working hours
Trust your gut. If something feels off, it probably is.
How to Prevent Business Email Imposter Attacks
1. Implement Email Authentication Protocols
Technical defenses are your first line of protection. Every business domain should be configured with protocols make it significantly harder for attackers to spoof your domain.
- SPF (Sender Policy Framework): Specifies which mail servers are allowed to send email for your domain.
- DKIM (DomainKeys Identified Mail): Adds a digital signature to verify that messages aren’t tampered with.
- DMARC (Domain-based Message Authentication, Reporting, and Conformance): Tells receiving servers what to do with messages that fail SPF or DKIM — and sends reports to you.
2. Train Your Employees Regularly
Technology alone can’t stop social engineering. That’s why ongoing employee training is vital. Teach your staff how to:
- Spot phishing red flags
- Verify unusual or urgent requests through alternate channels (e.g., a phone call)
- Avoid clicking on suspicious links or downloading unverified attachments
- Report suspicious emails immediately
Simulated phishing exercises are a great way to test and reinforce this training.
3. Use Multi-Factor Authentication (MFA)
If a scammer does trick someone into sharing login credentials, MFA can stop them from gaining access. Require it across all email and internal systems — especially those handling financial data or sensitive client information.
What to Do if You’ve Been Targeted
If you suspect or confirm an email imposter incident:
- Disconnect the compromised system from your network.
- Change credentials immediately.
- Alert your cybersecurity team or service provider.
- Notify affected clients or partners, if applicable.
- Report the attack to the FBI’s Internet Crime Complaint Center (IC3) and the FTC.
Business email imposters are more than just a nuisance; they are a serious and growing threat to businesses of all sizes. But with the right blend of technical safeguards, employee training, and proactive policies, your organization can defend itself effectively.