According to the VP in charge of threat research at PhishLabs, a type of social engineering attack that uses business email to attempt to con companies out of their money is on the rise and growing more sophisticated. The FBI said last summer that well over a billion dollars in losses had resulted from these attacks over the past couple of years, but that number is thought by industry experts to be very conservative.
These attackers utilize impersonation techniques and doing reconnaissance on the victims to make their communications more credible. The key to protecting against these, as with other social engineering attacks, is education. Read more here:
