How to Protect Your Microsoft 365 Business Environment
A compromised email can cause severe damage for small businesses—from stolen data to lost revenue. Learn how 24/7 ITDR for Microsoft 365, DMARC, and security training can safeguard your business from cyberattacks. Stay protected.
For small businesses, a compromised email can lead to big problems, from losing sensitive information to damaging your reputation. Did you know that 61% of small businesses were the target of a cyberattack in 2021? That's a pretty alarming number!
That's where ITDR (Incident Detection and Response) comes in, especially when it comes to protecting your Microsoft 365 environment. ITDR isn't a term that most businesses are familiar with, and that's ok. What's important is what it does: It keeps your most valuable data in the cloud from being stolen by someone who has gained access to your accounts. Think of it like a 24/7 security system that calls the police (Managed Nerds) the moment a thief breaks in, and then we come and kick them out before they can do additional harm.
Let's talk a bit more about what exactly can happen to your Microsoft 365 business account if a black-hat hacker gets their hands on it.
Business Email Compromise (BEC)
Business Email Compromise, or BEC for short is a type of cyberattack where hackers gain access to a business email account and use it to trick employees, customers, or partners into sending money or sensitive information. It's a sneaky and effective way for cybercriminals to cause a lot of damage.
BEC attacks often involve impersonating a trusted person within the company, like a CEO or a financial officer, to request urgent payments or confidential data. These attacks can be hard to spot because they look like legitimate emails from someone you know. Think of it as a form of very targeted phishing - but instead of using a fake account, the attacker is using your business account.
BEC is on the rise, and small businesses are particularly vulnerable because most don't have any protection in place. BEC scams cost businesses over $1.8 billion in 2020 alone as per the FBI. The financial and reputational damage from these attacks can be devastating, especially for businesses who don't have cybersecurity insurance coverage.
Case Studies on Business Email Compromise
Since BEC is becoming more common every day, it's likely you've either experienced it first-hand, or know someone who has. But here are some examples of what scammers did once they gained access.
