Business email compromise cost US businesses $26 billion from 2016–2019*
Spear phishing attacks are personalized emails that typically impersonate known acquaintances, such as colleagues, superiors, customers, and contractors. Via social engineering, the victim is first primed for the attack through a series of harmless email exchanges. The victim is then asked—or instructed—to execute a financial transaction, such as scheduling a wire transfer, purchasing gift cards, making a payment, or changing direct deposit information.
The absence of URLs and attachments makes spear phishing attacks extremely difficult to detect. Vade Secure’s patented Anti-Spear Phishing technology uses a combination of Supervised and Unsupervised Learning algorithms to identify and block all forms of business email compromise.
