BEC attacks, also referred to as email-based impersonation fraud, is an issue that is not going away, because these attacks can easily evade many traditional email security systems on a global scale.
The latest Esra found a 269percent increase in these types of attacks, compared with the same findings in last quarter’s report. This trend was also reflected in recent research, the “State of email security 2019 report”, which found that 85percent of the 1025 global respondents experienced an impersonation attack in 2018, with 73percent of those victims having experienced a direct business impact, such as financial, data or customer loss.
The rise in BEC attacks underscores the need for organisations to add protection against well-resourced attackers. A 2019 Osterman Research Report titled “Ten questions to ask about your Office 365 deployment” concluded that Microsoft Office 365 alone “will not fully meet many organisations’ requirements”.
Today, close to half of Mimecast customers bolster the cyber resilience of their Microsoft Office 365 deployments with services including Targeted Threat Protection to defend against bad actors and BEC attacks.