The Internet Crime Complaint Center (IC3) of the FBI has announced new phishing attacks defraud vendors. On March 24, 2023 IC3 released a public service announcement indicating of Business Email Compromise attacks focusing on the following industries:
- Construction Materials
- Agricultural Supplies
- Computer Technology Hardware
- Solar Energy Products
IC3 states, “Criminal actors impersonate the email domains of legitimate U.S.-based companies using spoofed email domain addresses and the display names of current or former company employees, as well as fictitious names to initiate the bulk purchase of goods from vendors across the U.S. As a result, email messages sent to vendors appear to come from known sources of business. Thus, victimized vendors assume they are conducting legitimate business transactions fulfilling the purchase orders for distribution.”
Business email compromise
This type of cyberattack has become one of the most popular methods of use by cybercriminals. Business email compromise attacks typically spoof legitimate email addresses of either your business or a business your organization works with. The cybercriminal then portrays someone from the business, typically the boss or owner or someone you may be familiar with. These emails typically request for the purchase of something, like a gift card or in this case, products your business sells.
What you can do
The number one thing you can do is to be aware of these types of attacks and to alert your employees or coworkers. Awareness is one of the most important first steps in minimizing the risk of phishing emails. It is also recommended to directly call the business that the email came from in order to confirm the purchase and to verify its legitimacy. Another step you can take is to verify the email address itself is the correct one and free from spelling errors or using the wrong suffix domain. It is also important to remember to minimize clicking on links or the downloading of attachments.
Learn more today
As we mentioned above, awareness of cybersecurity threats is one of the more important steps you can take. In order to learn more about current threats, steps you can take to protect yourself, or to learn more on cybersecurity, check out Small Business, Big Threat!