BEC costs businesses more than any other fraud. Small firms are the most common target.
A message that appears to come from a boss, vendor or partner asks for a payment or a change of bank details at the last minute.
They often lack the layered approval rules that large enterprises use, and a single invoice change can be worth tens of thousands.
Require two-person approval for payment changes, verify new bank details by phone on a known number, and train staff to question urgency.
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