Email scams targeting companies are increasingly rampant. This mode of fraud is known as business email compromise (BEC). The latest FBI release stated\u00a0that throughout 2019 BEC attacks have\u00a0caused organizations\u00a0to lose 1.77 billion US dollars. The report also received 23,775 complaints related to BEC.<\/p>\n
<\/p>\n
The Directorate of Cyber Crime (Dittipidsiber) of the Indonesiaan Police and Criminal Investigation Body (Bareskrim) have\u00a0handled BEC cases in 2019. One of the\u00a0cases, as quoted by Medium (9\/1\/2019), was\u00a0a Nigerian network that has an accomplice in Indonesia. The perpetrator was\u00a0targeting OPAP Investment Limited in Greece. Basically,\u00a0BEC is a\u00a0type\u00a0of fraud that is conducted via email. In this case, the\u00a0perpetrator hacked the company’s treasurer\u2019s\u00a0email. Based on the hacked email, the perpetrator gained company information and tricked a bank in\u00a0the\u00a0Czech\u00a0Republic\u00a0to transfer a number of accounts receivable to the perpetrator’s account number. Meanwhile, the bank believed\u00a0that the bill was\u00a0officially\u00a0sent by OPAP because it was sent from the treasurer’s email.<\/p>\n
Other forms of BEC that are commonly carried out by perpetrators are:<\/p>\n
– Fraud invoice<\/p>\n
–\u00a0Account takeover<\/p>\n
– CEO fraud<\/p>\n
– Data theft<\/p>\n
<\/p>\n
With the increase\u00a0in cases of email fraud, in addition to tightening security in terms of cyber security, companies need to build awareness of information security among their employees. This can be done by providing training\u00a0sessions, setting up\u00a0tight procedures\u00a0for transactions, and establishing transparent\u00a0communication.<\/p>\n
<\/p>\n
Conducting prevention efforts are always better than recovering from losses. However, there is a time when\u00a0a\u00a0company\u00a0has\u00a0to face the harsh reality of being attacked by\u00a0a\u00a0BEC. Therefore, companies should prepare countermeasure actions\u00a0to take should they be attacked. This\u00a0includes\u00a0conducting an\u00a0investigation\u00a0of the company itself, to minimize the damage and losses as well as to improve the company\u2019s security system.<\/p>\n
Investigating cyber fraud requires a lot of resources, labor, and time. One of the challenging parts of the investigation is that the victims, perpetrators, and witnesses could be in different jurisdictions. However, such a case can be resolved if the investigator uses a combination of internet research, conventional investigative tools, and cooperates with law enforcement in different jurisdictions. Companies are strongly advised to work with an experienced and professional third-party carrying out business investigation services to handle a fraud-related case.<\/p>\n
Integrity has been trusted by its clients as a provider of risk mitigation and business investigation services \u2013 including fraud audits and investigations, theft investigations, asset tracing, skip tracing, and litigation support. Our analysts and investigators are personnel who are equipped with skills and experience in conducting business investigations. For more information about business investigations, do not hesitate to\u00a0contact us<\/b><\/strong><\/a>.<\/p>\n <\/p>\n 3 Common Scenarios of How Business Email Compromise Defraud Your Company<\/a><\/strong><\/p>\n Indonesia Has the 2nd Highest Phishing-infected Users<\/a><\/strong><\/p>\n <\/p>\n <\/p>\n <\/p>\n Image by Gerd Altmann<\/a> from Pixabay<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Email scams targeting companies are increasingly rampant. This mode of fraud is known as business email compromise (BEC). The latest FBI release stated\u00a0that throughout 2019 BEC attacks have\u00a0caused organizations\u00a0to lose 1.77 billion US dollars. The report also received 23,775 complaints related to BEC. BEC case in Indonesia The Directorate of Cyber Crime (Dittipidsiber) of […]<\/p>\n","protected":false},"acf":[],"featured_image_url":"https:\/\/cms-corporate.integrity-asia.com\/id\/wp-content\/uploads\/sites\/3\/2020\/02\/bec-email.jpg","_links":{"self":[{"href":"https:\/\/cms-corporate.integrity-asia.com\/id\/wp-json\/wp\/v2\/posts\/5698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cms-corporate.integrity-asia.com\/id\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cms-corporate.integrity-asia.com\/id\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cms-corporate.integrity-asia.com\/id\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/cms-corporate.integrity-asia.com\/id\/wp-json\/wp\/v2\/comments?post=5698"}],"version-history":[{"count":0,"href":"https:\/\/cms-corporate.integrity-asia.com\/id\/wp-json\/wp\/v2\/posts\/5698\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cms-corporate.integrity-asia.com\/id\/wp-json\/wp\/v2\/media\/5702"}],"wp:attachment":[{"href":"https:\/\/cms-corporate.integrity-asia.com\/id\/wp-json\/wp\/v2\/media?parent=5698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cms-corporate.integrity-asia.com\/id\/wp-json\/wp\/v2\/categories?post=5698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cms-corporate.integrity-asia.com\/id\/wp-json\/wp\/v2\/tags?post=5698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Also Read:<\/strong><\/h3>\n