Protecting Your Business from Cyber Scams: What You Need to Know

Cyber threats are on the rise, and one of the biggest risks businesses face today is Business Email Compromise (BEC). This scam targets businesses handling financial transactions by gaining unauthorised access to email accounts and tricking customers into sending payments to fraudulent accounts.

How Does Business Email Compromise Work?

Cybercriminals infiltrate a business’s email system — sometimes through phishing attacks or data breaches — and then use that access to send fraudulent invoices to customers. Because these emails come from legitimate accounts, they can be difficult to detect. The result? Customers unknowingly send money to a criminal instead of your business.

Who’s Being Targeted?

BEC scams have been increasing, with a notable rise in attacks on law firms. These firms often handle high-value transactions, making them attractive targets. However, any business that deals with payments or financial transactions is at risk.

Steps to Protect Your Business

To safeguard your business from BEC scams, take the following precautions:

1. Monitor Your Email Systems – Regularly review email security settings with your IT team or provider. Key checks include:

   • Auto-forwarding rules: Ensure emails aren’t being secretly forwarded to external accounts.

   • Filtering rules: Look for unexpected filters that could hide fraudulent messages.

   • Access logs: Check for unusual login times or logins from foreign IP addresses.

2. Use Strong Authentication Methods – Implement multi-factor authentication (MFA) for business email accounts to add an extra layer of security.

3. Check If Your Email Has Been Compromised – Websites like haveibeenpwned.com can help you see if your email credentials have been exposed in a data breach.

4. Educate Your Team and Clients – Inform staff and customers about the risks of BEC. Encourage them to verify payment details through a second channel (such as a phone call) before transferring large sums.

5. Report Suspicious Activity – If you suspect a compromise, report it immediately. The National Cyber Security Centre (NCSC) provides support and guidance for affected businesses.

6. Scam Check – If you’re concerned you’re being scammed, Own Your Online's quick check tool to see if there’s something you need to be wary of, and find out what to do next. 

Stay Vigilant

Cybercriminals are becoming more sophisticated, making it critical for businesses to stay ahead of threats. By strengthening email security, raising awareness, and implementing best practices, you can reduce the risk of falling victim to these scams.

For more tips and tools to protect your business, visit Own Your Online.