SiliconAngle reports that one or more business email compromise attacks have impacted 70% of organizations during the past year, making BECs the most common intrusion around the world.
Moreover, one-quarter of attacks during the first three months of 2024 involved BEC, most of which were in the finance sector, a report from Arctic Wolf revealed. While the rate of organizations breached due to the lack of multi-factor authentication declined by more than half during the first quarter of this year, other BEC intrusions have been facilitated by the lack of protocols and enforcement following MFA adoption, according to researchers, who also noted threat actors' utilization of more advanced phishing kits and MFA fatigue attacks. Organizations have been urged to address the threat of BEC attacks by implementing a multilayered security approach involving not only MFA and passwordless authentication but also sophisticated detection systems, extensive employee security training, and active security measure enforcement.
