# Business Email Compromise: The Costliest Cybercrime

- Link: https://dbr-soft.com/business-email-compromise-the-costliest-cybercrime/
- Published: 2026-10-26T19:14:14+00:00
- Author: David Botero

Business email compromise (BEC) is fraud carried out through email or messaging:
an attacker impersonates an executive, supplier, or employee to trick someone into
sending money or sensitive data.

**Why it’s so costly**

The FBI’s Internet Crime Complaint Center recorded about US$2.77 billion in reported
BEC losses in 2024, among the largest of any cybercrime category. Reported figures
understate reality, because many victims never report.

**Common versions**

– **Executive impersonation:** “I’m in a meeting. Buy gift cards” or “Wire this 
payment today.”

– **Vendor invoice fraud:** a supplier’s account is compromised, or spoofed, and
a “new bank account” is provided

– **Payroll diversion:** a fake request to change an employee’s direct deposit

– **Real estate and legal payments:** fraudulent wiring instructions at closing

– **Hybrid attacks:** a convincing email followed by a phone call, sometimes with
a cloned voice

– **Data theft:** requests for tax forms, employee data, or customer lists

**Why technology alone doesn’t stop it**

Many BEC emails contain no malware and no suspicious links. They come from a real
but compromised account, or a look-alike domain, and use urgency and authority.

**Defenses that work**

1. **Call-back verification** for any change to payment details, using a phone number
you already have

2. **Dual approval** for payments above a threshold

3. **MFA and Conditional Access** to prevent account takeover

4. **Email authentication** (SPF, DKIM, DMARC) to block spoofing of your domain

5. **Impersonation protection** and external-sender warnings in your email security
tool

6. **Mailbox rule monitoring:** attackers often create hidden forwarding rules

7. **Staff training** with realistic examples, especially for finance and executive
assistants

8. **A clear reporting channel** and a no-blame culture

**If it happens**

Contact your bank immediately to attempt a recall, notify your insurer, report to
local police and the Canadian Anti-Fraud Centre, and have your IT provider investigate
the compromised account.

_Sources: [FBI IC3 Internet Crime Report (2024 figures).](https://www.ic3.gov/AnnualReport/Reports/2024_ic3report.pdf)_

**DBR Soft can harden your email and build payment verification procedures.** **
[Contact us for more information.](https://dbr-soft.com/contact/)**

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