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There has also been a shift from individual to group BEC attacks, with campaigns with more than 10 recipients up 27% compared to Q4 2019. Attackers also adjusted their targets, with attacks on finance employees increasing more than 75% as attacks on C-Suite executives decreased by 37%.

Email security challenges and BEC trends during the pandemic

Customers and employees of Wells Fargo are being warned of an email scam that pretends to come from the financial institution’s security team. According to security company Abnormal Security, the message says they are being sent a new digital security key to protect their account from identity theft and fraud.

Cyber Security Today – Google erases bad Chrome extensions, Wells Fargo customers get attacked and Netgear router owners warned

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Between the second and third weeks of March 2020, email scams and phishing attacks spiked by an unprecedented 436%. Such was the effect of the COVID-19 pandemic. Meanwhile, business email compromise (BEC) attacks have been less affected by the pandemic, but have also increased and evolved.

COVID-19 Fuels Phishing and Scams While BEC Attacks Evolve and Increase

Employees of large corporations are being targeted with phishing emails that impersonate the Wells Fargo security team and use innocent-looking calendar invitations as clickbait.

The fraudsters try to get message recipients to click on the invitations, which take them to a malicious website that resembles the Wells Fargo site, according to Abnormal Security, a cybersecurity research firm that says it discovered the attack.

Wells Fargo customers targeted with phishing attacks using calendar invites

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Researchers at two security firms are tracking separate phishing campaigns that are targeting customers of Wells Fargo and Bank of America, according to a pair of reports.

Separate Phishing Attacks Target Wells Fargo, BofA Customers

Researchers at two security firms are tracking separate phishing campaigns that are targeting customers of Wells Fargo and Bank of America, according to a…

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Recent history shows holiday weekends and vacations provide an attack surface bonanza for threat actors.

Ahead of summer holiday weekends, IT security leaders brace for deliberate cyber mischief

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Even though nearly three-quarters of business email compromise attacks during the past year have emerged from Nigeria, Israel has been gaining traction as a base for sophisticated BEC campaigns.

Israel-based BEC attacks on the rise

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Abnormal Security is tracking cybercriminals from an unusual location for business email compromises who are using sophisticated spoofing to spur payments for fake acquisitions.

Israel-based threat actors show growing sophistication of email attacks

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The group, identified by Abnormal Security, targets multinational firms using email display name spoofing and multiple fake personas.

Israeli threat group uses fake company acquisitions in CEO fraud schemes

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The cybercrime industry is evolving tremendously, and CISOs need to have stringent practices to keep their IT infrastructure secure against sophisticated cyber threats and risks. IT Security Wire interviewed Mike Britton, CISO, Abnormal Security, to understand today’s threats and the best ways to stay secure.

Modern Cyber Threat Landscape and Ways to Stay Secure

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A BEC campaign has been tracked to a threat group in Israel, an unlikely genesis for a cyberattack of any kind, Abnormal Security said in a new report.

Widespread Email Ruse Launched from Israel, an Unlikely Source in Moneygrab

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Researchers at Abnormal Security discovered an Israel-based threat group carrying out a BEC campaign primarily targeting large and multinational enterprises with an average annual revenue of over $10 billion.

BEC Campaign via Israel Spotted Targeting Large Multinational Companies

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The report reveals how an emerging threat group employs a multi-phased BEC attack with an M&A theme to steal  from multinational enterprises

New Research from Abnormal Security Shows the Rise of Business Email Compromise Attacks Sent from Israel

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More than two thirds of IT and security leaders are concerned that attackers are leveraging communication and collaboration channels beyond email to evade security controls

New Survey from ESG Reveals Trends Shaping Communication and Collaboration Application Security

Here’s a look at the most interesting products from the past month, featuring releases from Abnormal Security and others.

Infosec products of the month: April 2023

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Abnormal Security unveiled three new products during RSA Conference, adding new threat detection capabilities for Microsoft Teams, Slack and Zoom.

Ten coolest cybersecurity startups at RSA 2023

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The 2023 RSA Conference showcased a variety of AI-powered cybersecurity tools, with dozens of vendors highlighting the intersection of AI and cybersecurity.

AI Takes Center Stage at 2023 RSA Conference: A Roundup of New Products

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<p>Exploring the Rise of Israel-Based BEC Attacks </p>

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Abnormal’s latest report on business email compromise trends and statistics finds that employees open 28% of attacks and reply to 15% of them.

H1 2023: “Read” Alert: Data Shows 28% of BEC Attacks Opened by Employees

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Learn how investing in Abnormal Security can yield a 278% ROI within 3 years and help your organization avoid $4 million in losses from BEC.

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