Business Email Compromise (BEC), also known as email account compromise (EAC), happens when someone illegally accesses an organization’s security through email and uses the access to commit fraud. All firms that use email are at risk, but those that conduct business using wire transfers and with overseas suppliers are at a higher risk. In this podcast, Mark Meloy, CEO of First Business Bank, speaks with the First Business Bank’s Managing Director of Compliance and Risk Management, Theresa Wiese; Director of IT Security and Compliance, Dawn Wilcox; and Milwaukee Market Treasury Management Leader, Kim Preston — each with over 25 years at First Business Bank — about their experiences with BEC and best practices for avoiding it.
This discussion provides insights on:
- What is BEC?
- How perpetrators use BEC to steal company funds
- Tips to recognize suspicious emails before you click
- How to prevent BEC scams from occurring in your business