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Two new phishing tactics use the platform’s automated responses to evade email filters. Two fresh business email compromise (BEC) tactics have emerged onto the phishing scene, involving the manipulation of Microsoft 365 automated email responses in order to evade email security filters.

Microsoft 365 Becomes Haven for BEC Innovation

Threat actors are sending phishing emails impersonating a Small Business Administration (SBA) lender to prey on US business owners who want to apply for a Paycheck Protection Program (PPP) loan to keep their business going during the COVID-19 crisis. PPP allows businesses to apply for an SBA loan designed to help them keep their workforce employed throughout the current pandemic.

Phishing campaign lures US businesses with fake PPP loans

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Abnormal Security, a next-generation cloud email security company, today released a new threat research report that reveals an 82% increase in the chance of companies getting attacked through SolarWinds-style vendor email compromise (VEC) during any given week. The company also found that these attacks can be very costly as it recently detected and stopped a $1.6M VEC attack.

Abnormal Security: Risk of SolarWinds-Style Attacks Through Vendor Email Compromise Increased 82%

The supply chain attack involving SolarWinds software last year has caused ripples throughout the cybersecurity industry, not least because it went undetected for nine months. The attack was able to bypass traditional email security by exploiting trusted communications routes between vendors and customers. A worrying new report from Abnormal Security shows that this technique is becoming a mainstream attack vector.

SolarWinds-style email compromise attacks go mainstream

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While SolarWinds has garnered much of the attention following disclosure of a sophisticated nation-state attack, companies are asking about the role of Microsoft Office 365 in the compromise. Larger questions persist about the overall security of one of the world's largest email and productivity applications.

SolarWinds fallout turns security eye to Microsoft Office 365

While SolarWinds has garnered much of the attention following disclosure of a sophisticated nation-state attack, companies are asking about the role of…

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While SolarWinds has garnered much of the attention following disclosure of a sophisticated nation-state attack, companies are asking about the role of Microsoft Office 365 in the compromise. Larger questions persist about the overall security of one of the world's largest email and productivity…

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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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A BEC group has been spotted in Israel. It’s crafting fake messages in multiple languages and impersonating real company bosses to hoodwink target companies out of more than ten times the average amount for payment fraud attacks.

Israel BEC group is so good at robbing big firms it only needs to work part time

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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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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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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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Abnormal Security has announced the results of a new ESG survey, revealing that 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.

Email is Not the Only Channel Open to Attack

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Artificial intelligence presents a unique proposition to the cybersecurity industry given its ability to be used by cybercriminals, but also by enterprises to combat that very threat.

Cybersecurity and the duality of AI

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

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Abnormal’s fundamentally different approach to cloud email security provides the best protection against existing and emerging attack techniques.

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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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