Fraud

The Evolution of Business Email Compromise Attacks

The ABA's Denyette DePierro Says Next-Generation Email Spoofing Is Fooling Smaller Companies

As fraudsters continue to improve their email spoofing and, in some cases, their email takeover techniques with better socially engineered schemes, business email compromise attacks will become more successful , says Denyette DePierro, vice president and senior counsel of the Center for Payments and Cybersecurity at the American Bankers Association. But what role can banking institutions play in helping ensure that their smaller commercial customers are not victimized?

See Also: How to Scale Your Vendor Risk Management Program

In this video interview at Information Security Media Group's 2017 Atlanta Fraud and Breach Prevention Summit about targeted business email compromise attacks, DePierro discusses:

  • Why smaller businesses are such easy targets;
  • How the American Bankers Association is working with banks to help develop customer education campaigns to help curb BEC-related losses; and
  • The role social media plays in the schemes.

DePierro joined the American Bankers Association in March 2008. She focuses on the state, federal and international regulation of technology, cybersecurity, privacy and data security and emerging trends in banking, including fintech, blockchain, internet of things, artificial intelligence and social media. Previously, she was legislative counsel of the Independent Community Bankers of America in Washington and the California Independent Bankers in Newport Beach, California.


About the Author

Tracy Kitten

Tracy Kitten

Director of Global Events Content and Executive Editor, BankInfoSecurity & CUInfoSecurity

A veteran journalist with more than 20 years' experience, Kitten has covered the financial sector for the last 13 years. Before joining Information Security Media Group in 2010, where she now serves as director of global events content and executive editor of BankInfoSecurity and CUInfoSecurity, she covered the financial self-service industry as the senior editor of ATMmarketplace, part of Networld Media. Kitten has been a regular speaker at domestic and international conferences, and was the keynote at ATMIA's U.S. and Canadian conferences in 2009. She has been quoted by CNN.com, ABC News, Bankrate.com and MSN Money.




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