Business Email Compromise (BEC)

What is BEC?

Business Email Compromise (BEC) is a sophisticated scam targeting both businesses and individuals performing a transfer of funds. The scam is frequently carried out when a subject compromises legitimate business e-mail accounts through social engineering or computer intrusion techniques resulting in an unauthorized transfer of funds.

Stay Protected

To remain on guard against BEC, follow the tips below:

• Use secondary channels or two-factor authentication to verify requests for changes in account information with the intended recipient.
• Verify the email address used to send emails, especially when using a mobile or handheld device, by ensuring the sender's address appears to match who it is coming from.
• Ensure the settings in yours or your employees' computers are enabled to allow full email extensions to be viewed.
• Monitor your personal financial accounts on a regular basis for irregularities, such as missing deposits.

What To Do In Case Of A BEC Incident

Contact Your Bank

Contact the originating Financial Institution as soon as fraud is recognized to request a recall or reversal as well as a Hold Harmless Letter or Letter of Indemnity.

Requesting a recall and obtaining a Hold Harmless Letter/Indemnification documents as quickly as possible may reduce or eliminate your financial losses.

File a Complaint

File a detailed complaint with www.ic3.gov. It is vital the complaint contain all required data in provided fields, including banking information.

Stay Informed

Visit www.ic3.gov for updated PSAs regarding BEC trends as well as other fraud schemes targeting specific populations (real estate, pre-paid cards, W-2, etc.).