How to Spot and Stop the New Wave of Business Email Compromise (BEC) Scams

Imagine your finance manager receives an urgent email from the CEO asking to wire funds to a vendor. The message has the same email signature, familiar tone, and even the right formatting. Within minutes, thousands of dollars are gone. Later, you realize the “CEO” was never involved at all.

This is how business email compromise (BEC) works and it’s hitting businesses of all sizes, not just large corporations. According to the 2023 Internet Crime Report by the FBI, BEC scams caused over $2.9 billion in losses last year, making it one of the costliest forms of cybercrime. A recent analysis by Fortra Intelligence also revealed that in May 2025 alone, BEC attacks increased 48% from April.

What Is Business Email Compromise and How Is it Evolving?

Business email compromise (BEC) happens when cybercriminals pose as a trusted individual to deceive employees into sending money or sharing sensitive information.

A few years back, BEC scams were easy to spot because they contained errors like typos or came from suspicious domains. Today, criminals use advanced tactics that make detection much harder. They might hack a real vendor’s account to send payment requests from a legitimate email address or use AI tools to replicate writing styles and signatures. Some even use deepfake audio to mimic a company executive’s voice and social engineering techniques to make the emails sound urgent.

How to Spot and Stop BEC Scams

It’s not easy to spot a BEC attack at first glance. These scams mimic real staff communication so convincingly that even senior employees can be deceived. Here are a few ways to stop BEC scams before they cause damage.

Watch for Warning Signs 

Even the most convincing BEC attempt has red flags that can give it away. Encourage employees to double-check unusual requests, no matter how legitimate they seem. Employees should look for:

• Variations in sender addresses 
• Requests for urgent wire transfers or payment changes
• Messages that bypass normal approval processes
• Emails sent outside regular business hours
• Tone or language that feels slightly off or inconsistent with the sender’s usual communication style

Strengthen Email Security

Consider implementing SPF, DKIM, and DMARC authentication. These tools verify that incoming messages come from your domain and block fake or spoofed emails.

You can also invest in advanced email security solutions that flag suspicious content and block messages from newly registered domains.

Most importantly, incorporate multi-factor authentication (MFA). Even if hackers steal passwords, MFA prevents them from accessing email accounts without a secondary verification step.

Establish Verification Protocols

No payment or banking change should ever be approved based solely on an emailed request. Always use a secondary verification method, like a phone call or in-person confirmation, before approving any transactions.

For example, if an invoice arrives with new bank details, your finance team should verify the change by contacting the supplier directly using a trusted phone number, not the one provided in the email.

Limit Access to Sensitive Information

Not every employee needs full access to financial or confidential data. Adopt a role-based access control system, where users can only access information necessary for their tasks. 

For example, your accounting team should have access to invoicing and financial platforms, while marketing or customer support staff should not. Similarly, administrators should use separate accounts for daily operations and privileged tasks to reduce unnecessary risks.

You should also review and revoke permissions for employees who no longer need certain systems or have left the organization. This reduces the attack surface and ensures fewer accounts can be exploited.

Train Employees 

Human error remains the weakest link in most BEC incidents. Consider running simulated phishing tests to measure employee readiness. These exercises help staff spot suspicious messages and know the proper steps to take.

Monitor and Respond Quickly

Set up alerts to catch suspicious activity, like multiple failed logins or access from unfamiliar locations or devices.

If you suspect a BEC attempt, act immediately. Pause all pending transactions and contact your bank to freeze or recall funds. It’s also important to deactivate compromised accounts and review your systems to find and fix weaknesses.

Build Long-Term Resilience Against BEC Threats

Stopping a single attack isn’t enough. Your business needs a proactive strategy to stay ahead of new threats. Build a strong cybersecurity response plan to detect and stop email scams before they escalate.

 A good cybersecurity response plan includes: 

• Using advanced threat intelligence tools to flag suspicious activities.
• Implementing DMARC, DKIM, and SPF protocols to verify that incoming emails are from trusted sources and are not forged by attackers.
• Encouraging employees to report suspicious emails immediately, even if they’re unsure.
• Conducting regular security audits. 
• Running regular phishing simulations to test employee awareness and reinforce safe email habits.

If you suspect a breach or your business lacks the tools to secure your emails, consider working with a trusted IT support services provider. At Elliman Technologies, we help businesses design secure and scalable strategies to combat modern BEC threats. Our experts will assess vulnerabilities and deploy advanced security solutions to detect and eliminate threats before it’s too late. Get in touch with us to book your free consultation.