Trend Micro Survey Finds Nearly Half of Organizations Have Been Victims of BPC Attacks

Trend Micro Incorporated has revealed that 43 percent of surveyed organizations have been impacted by a Business Process Compromise (BPC). Despite a high incidence of these types of attacks, 50 percent of management teams still don’t know what these attacks are or how their business would be impacted if they were victimized.

In a BPC attack, criminals look for loopholes in business processes, vulnerable systems and susceptible practices. Once a weakness has been identified, a part of the process is altered to benefit the attacker, without the enterprise or its client detecting the change. If victimized by this type of attack, 85 percent of businesses would be limited from offering at least one of their business lines.

Global security teams are not ignoring this risk, with 72 percent of respondents stating that BPC is a priority when developing and implementing their organization’s cybersecurity strategy. However, the lack of management awareness around this problem creates a cybersecurity knowledge gap that could leave organizations vulnerable to attack as businesses strive to transform and automate core processes to increase efficiency and competitivenessi.

The most common way for cybercriminals to infiltrate corporate networks is through a Business Email Compromise (BEC). This is a type of scam that targets email accounts of high-level employees related to finance or involved with wire transfer payments, either spoofing or compromising them through keyloggers or phishing attacks.

In Trend Micro’s survey, 61 percent of organizations said they could not afford to lose money from a BEC attack. However, according to the FBI, global losses due to BEC attacks continue to rise, reaching $12 billion earlier this year.

For more information on BPC and BEC attacks, read this Trend Micro Research report.

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