Email hijacking, account takeover, and business email compromise (BEC) are very frustrating and damaging daily cybersecurity threats businesses face. In these attacks, cybercriminals gain unauthorized access to email accounts or login credentials, typically through something called phishing or because of weak security practices, and use your compromised account to steal data, impersonate your good name, and defraud the businesses or clients you work with. For example, a cybercriminal may intercept ongoing discussions between your business and a client to insert fraudulent payment instructions, and being none the wiser, the receiving party has completed what seems like a legitimate transaction only to find that funds have been stolen. Without strong email security best practices, these attacks can go undetected until this type of significant harm has been done.
How These Attacks Hurt Your Business
The impact of these attacks extends beyond just the exposure of a single account. Typically, damages ripple throughout your entire organization in many forms not limited to:
- Financial Losses: A hijacked account can be used to manipulate financial transactions by cybercriminals impersonating trusted individuals to request payment or redirect funds. These fraudulent transfers are often overlooked until one party realizes they have not been paid.
- Data Breaches: Through account takeovers, attackers can access confidential communications, client data, and internal documents. This can lead to severe compliance issues, especially under regulations like GDPR or HIPAA.
- Reputational Harm: When attackers use your email account to send phishing emails, it undermines trust with clients and partners. Your contacts will now associate your brand with security failures, impacting long-term client relationships.
- Operational Disruption: Recovery processes such as resetting passwords, notifying affected contacts, and implementing post-incident security solutions can consume valuable time and resources.
How You Can Protect Your Business
These attacks take some precision and stealth to exploit the trust between you, your team, and your client. Attackers rely on this trust to infiltrate your systems and execute their plans. Once in, they can make recovering your compromised accounts an uphill battle.
The good news is there are ways to reduce or prevent their ability to do you harm:
- Enable Multifactor Authentication (MFA) on critical accounts and email: This adds a layer of security that requires you to verify your identity. It is much stronger than just a password alone.
- Train Yourself and Employees to Recognize Phishing Emails: Cybercriminals typically access accounts by tricking people with phishing emails. Knowing how to spot suspicious links or requests can prevent an attack before it starts.
- Adopt Strong Password Policies: Encourage unique, complex passwords for all accounts and consider using a password manager to enforce these policies.
- Monitor Systems for Unusual Activity: Doing so in-house or having someone who can watch your back and check accounts for unusual activity and signs of compromise ensures that even the most minor anomalies are caught and addressed to stop cybercriminals.
What is the Short Version of All This
Email hijacking, account takeover, and business email compromise (BEC) are more than just a tiny problem. These attacks significantly threaten your business’ security, reputation, and bottom line. By recognizing signs of account takeover, strengthening your defenses, and educating your team on phishing tactics, you can prevent these attacks from derailing your operations and tarnishing your good name.
If your business ever faces this issue, quickly recovering a compromised email account and implementing more robust safeguards should be your top priority. The time to act is now because prevention is the best defense against cyberattacks.
IntelliSystems provides businesses with advanced email security solutions and expert guidance to protect against threats like email hijacking, account takeovers, and business email compromise (BEC). Our team of certified cybersecurity professionals is dedicated to helping you safeguard your communications and sensitive information. If you’ve experienced a compromised email account or want to strengthen your defenses, contact us today for a comprehensive security assessment.
