Business Email Compromise training is a service for simulating a Business Email Compromise (BEC) attack on your organization. BEC is a very costly type of cyber attack happening to businesses today. Since the FBI began tracking BEC attacks in late 2013, 7000 US companies have become victims of BEC with losses above $740 million (https://www.fbi.gov/news/stories/business-e-mail-compromise).
Since there is no current technology which is able to identify phishing emails on its own, it is extremely important to train employees on how to identify the phishing emails themselves. This service can successfully decrease the rate at which employees click on phishing emails and become less at risk of BEC.
Small, medium and large MNC corporations are all potential customers of this service. This is because BEC attacks target companies of all shapes and sizes.
This service gives companies the tools to start defending against the masses of cybercriminals looking to make an illegal profit from them. Having the knowledge of what BEC attacks look like, companies will be equipped to avoid falling for phishing emails and take back control of their critical company communication tools.
This is a cloud-based web service that companies register with to send out phishing emails to their employees. Companies may only send phishing emails to members of their own organization preventing misuse or abuse of the service. Registered users may enter recipients individually or upload by Excel file. Users choose from existing phishing templates which are designed meticulously to mimic real phishing scenarios. The recipients of the phishing emails will see them in their inboxes and have the opportunity to be tested on whether they will not interact with the phishing email, open the phishing email, or give away their login credentials or sensitive personal info. Users who manage the phishing campaign will be able to examine reports of the phishing attack online via the web service.
This service can be used in all commercial, education, and government sectors which use email communication. The service has very simple software integration requirements so setup is very easy. Companies can utilize this service to regularly review their readiness for BEC attacks since cybercriminals are always looking for new ways to make money from businesses.
The market size for this service is APAC but this may expand to other regions in the future. As more businesses become aware of the danger and high cost of BEC, they will look for tools which can prevent BEC from happening. Cybercrime is a burgeoning worldwide epidemic and is one of the most dangerous threats to businesses and often the individuals that work there.
BEC attacks across the world are rampant. Companies are hit with huge costs of doing business in the digital age. Since cybercrime is becoming known as a grave threat to all businesses. This includes educational, government bodies, and commercial sectors. All types of organizations can take precautions by signing up for BEC training services. As companies begin to implement BEC training and prevention services, they will be able to reduce losses associated with phishing emails. Not only companies but employees as well will be better trained to defend themselves against BEC in their personal email communications.