A new report from Barracuda Networks found that business email compromise (BEC) attacks have nearly doubled over the past year. These attacks made up 12% of all spear phishing attacks in 2020, compared to 7% in 2019. While these might seem like low numbers, it’s worth keeping in mind that BEC attacks are far more devastating and require much more effort than normal phishing attacks. Attackers can spend months performing reconnaissance and setting up infrastructure before executing the attack, and successful BEC scams often result in multimillion-dollar losses for the victims.
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