How many of us today would dare defy a direct mail from our CEO? Safe to say, most would be startled by the direct attention given, even happy to know that we are noticed. The communications asks you to wire a sum to a third party under a pretext. You being the good soldier execute the order only to be questioned by the same CEO at the next meeting on your actions. Welcome to the trending social engineering hack targeting relationships between employees, known as Business email Compromise (BEC), CEO fraud or the popular term i.e. WHALING!
Its more intense than earlier perceived, so much so that that its imparted damages worth over a $2.3 billion in losses, while being alive and well across 79 countries. This only goes to reinforce that today cyber criminals have developed a level of sophistication well beyond the hobby hackers of the past. Cyber threats today are more complex, more targeted, and even customized to attack a particular network’s vulnerabilities.
The volume of new threats witnessed by McAfee labs is rising exponentially. Ten years ago, we saw about 25 new threats per day; today we see about 500,000 new threats per day. As a result, security has become a pivotal concern in the boardroom as CEOs and COOs seek to ensure that technology and data are used to drive growth securely. There are two types of companies today: 1) Companies that have been breached and know it and 2) Companies that have been breached and don’t know it. For the full article click here
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