The Rise of A Business Email Compromise Attack in Australia
Zoom to Doom in one click.
In this documentary, we explore the way sophisticated cyber-criminals targeted one leading Australian hedge fund. Starting with a malicious Zoom link, the fraudsters were able to access the hedge fund’s email system. This allowed them to impersonate the fund’s executive, by sending fake email instructions to process illegitimate payments.
About The Documentary
Accountants at front of a Business Email Compromise attack
When it comes to Business Email Compromise (BEC), the finance team, and in particular Accounts Payable Managers are among the most targeted individuals in any organisation. Cyber-Criminals have developed elaborate social schemes that are trying to convince AP managers to pay malicious bank accounts.
And once paid, the funds are diminished completely. This is exactly what happened to the directors at Levitas Capital. In a sophisticated fraud attack, the criminals were able to steal over $1.5 million in funds.
Besides having software and a high-security hygiene posture, Accounts Payable managers must be aware of the dangers and make sure they are knowledgeable about how these scams unfold. As training is costly or difficult to find we developed this entertaining and educational documentary. After you have watched the video, test your knowledge and see how you compare to your colleagues.
What is a Business Email Compromise?
A business email compromise (BEC) is a form of phishing or spear phishing that targets the organisation’s finance department in transferring funds to a fraudulent bank account. Phishing attacks may be carried out on CEOs, CFOs, executive representatives, accounts payable departments or suppliers.
Read our business email compromise guide to find out how a business email compromise attack and types of attacks are orchestrated.
Have you paid attention?
After watching our mini-documentary, do the quiz to see how much you know about BEC and cyber-criminals coming after you.
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