Ronnie Tokazowski

So they know that that's a piece that people use as a metric, but they will go and try and find different ways to bypass that.

So they know that that's a piece that people use as a metric, but they will go and try and find different ways to bypass that.

BEC is a business email compromise. Okay, so let's stop there. Okay, sounds good, sounds good.

BEC is a business email compromise. Okay, so let's stop there. Okay, sounds good, sounds good.

No. So if you go and look up the history of BEC, business email compromise has been the number one crime seven years in a row, minus last year. But the way most people know it as is if you receive an email that says, Hi, I'm the CEO of your company. I need you to do this urgent wire transfer for me. Can you wire $40,000 out to this account?

No. So if you go and look up the history of BEC, business email compromise has been the number one crime seven years in a row, minus last year. But the way most people know it as is if you receive an email that says, Hi, I'm the CEO of your company. I need you to do this urgent wire transfer for me. Can you wire $40,000 out to this account?

And that's what most people think of as business email compromise.

And that's what most people think of as business email compromise.

Right. And phishing is kind of the overarching term for any email-based threat like that.

Right. And phishing is kind of the overarching term for any email-based threat like that.

Yeah. So business email compromise, in most of the cases, it does not use malware. It does not employ any of those tactics around trying to install software on the computer. At most, they will do credential phishing where they'll try and harvest the email credentials and email passwords. But for a vast majority of business email compromise, there is no malware tied to that.

Yeah. So business email compromise, in most of the cases, it does not use malware. It does not employ any of those tactics around trying to install software on the computer. At most, they will do credential phishing where they'll try and harvest the email credentials and email passwords. But for a vast majority of business email compromise, there is no malware tied to that.

There's only been a handful of cases that have been publicly documented specific to BEC actors using malware or something like that. But just for the most case, there is just no malware that's tied back to those types of crime.

There's only been a handful of cases that have been publicly documented specific to BEC actors using malware or something like that. But just for the most case, there is just no malware that's tied back to those types of crime.

Yep. And that is exactly what it is. So we did a study. What we found was that When you go and think of your Nigerian print scams, your 419 scams, or you have this long lost relative in Nigeria, you go send me this money. What we found was that business email compromise was not some new crime. It was a symptom of ignoring your quote unquote easy 419 scams.

Yep. And that is exactly what it is. So we did a study. What we found was that When you go and think of your Nigerian print scams, your 419 scams, or you have this long lost relative in Nigeria, you go send me this money. What we found was that business email compromise was not some new crime. It was a symptom of ignoring your quote unquote easy 419 scams.

And we've had direct confirmation that the scammers behind business email compromise are are the same people who have been doing these Nigerian print scams for years.

And we've had direct confirmation that the scammers behind business email compromise are are the same people who have been doing these Nigerian print scams for years.

So very much with what you said, they realize, oh, wait, no, I can go and get $40,000 out of this company as opposed to going to hit this one victim over here. And that's where we see the overlap between the romance scams is that when the...

So very much with what you said, they realize, oh, wait, no, I can go and get $40,000 out of this company as opposed to going to hit this one victim over here. And that's where we see the overlap between the romance scams is that when the...