Intelligent CIO Europe Issue 11 | Page 24

LATEST INTELLIGENCE STOPPING EMAIL FRAUD PRESENTED BY Download whitepaper here T oday’s email attacks have evolved. Unfortunately, most security tools haven’t evolved with them. Attackers are moving and adapting faster than most cyberdefences. They’re bypassing security tools with new techniques and delivery methods. And some are avoiding legacy controls altogether through novel attacks that don’t use malware at all. Email fraud, sometimes called business email compromise (BEC), is one of them. Cybercriminals can easily spoof executives and business partners to trick people into sending money and other valuable information. This growing threat has cost victims more than US$5.3 billion since the FBI began tracking it in late 2013. The average attack nets about US$130,000. Partner spoofing attacks, where a fraudster pretends to be an organisation’s trusted vendor, are also 24 INTELLIGENTCIO growing. In just one example, a Lithuanian man has been accused of stealing more than US$100 million in separate attacks on Google and Facebook in July 2017. The man allegedly spoofed a vendor in the companies’ supply chains. These attacks are sophisticated and highly targeted. They exploit people, not technology. And stopping them requires a new people-centred approach. Proofpoint Advanced Email Security uses a multi- layered defence to stop unsafe emails from reaching people’s inboxes – and keep sensitive information in your environment when something goes wrong. Deploying a multi-layered defence: An analogy Consider how airports manage a vast and changing mix of potential security issues. Most take a two- pronged approach, each of those prongs featuring www.intelligentcio.com