With cyber risk continuing to increase (and technology vendors pushing many different solutions as the answer), it is important to remember you can be "hacked" by relatively low tech, highly sophisticated methods.
One such method on the rise is Business Email Compromise (BEC) and this almost always involves exploiting poor processes and low user awareness. Technology alone rarely plays a part in BEC and won't necessarily solve the problem.
Addressing cyber risk requires the triumvirate of people, process, and technology to be addressed. Good tech will help, but great processes and controls – alongside educated people – will complete the picture and will be your best defence when the tech doesn't deliver.
Our most recent thought leadership addresses the many cyber risks Mid Sized Business needs to address, download it here or reach out for a chat.
There were 749 cases reported in 2015-2016, the first full financial year that ACORN collected data on BEC fraud. The new numbers suggest victim numbers are on the rise.