Summary: Trend Micro has identified a complex Business Email Compromise (BEC) attack that manipulates trusted relationships between B2B partners, involving the compromise of an email server to facilitate fraud. The attack demonstrates an evolution from simple phishing attempts to sophisticated schemes where the threat actor gains full control over email conversations to divert funds. This alarming trend highlights the need for enhanced email security measures and validation protocols within organizations.
Affected: Business-to-Business (B2B) Transactions
Keypoints :
- The attack involved multiple business partners and exploited pre-existing trust relationships.
- The threat actor compromised a third-party email server and monitored email exchanges, enabling them to manipulate conversations and replace recipients with malicious accounts.
- Organizations can mitigate risks by implementing email security protocols like DMARC, SPF, DKIM, and by establishing financial transaction validation measures.