Fraudsters are impersonating executives and vendors via compromised or spoofed email accounts, pressuring accounts-payable staff to change wire instructions or rush payments before end of day.
Who is affected
Construction, real estate, legal, and professional services firms that regularly transfer funds or pay vendors by wire or ACH.
Why it matters
BEC is one of the costliest cybercrime categories. Average losses per incident can dwarf the annual cost of proper IT security.
Recommended actions
- Require verbal callback verification using a known phone number before any banking detail changes.
- Flag external emails with banner warnings and train AP staff on BEC red flags.
- Restrict who can approve payments over a set dollar threshold.
- Enable advanced anti-phishing and impersonation protection in your email platform.
Official reference
Need help implementing these protections?
ITNS provides managed IT, cybersecurity, and compliance support across Florida. Tell us about your environment — we will help you prioritize what matters most for your team.
Disclaimer: This advisory is for general awareness only and does not constitute legal or compliance advice. Every environment is different — contact ITNS for guidance specific to your business.