Business Email Compromise

Add one more email scam reference to your lexicon. Business E-mail Compromise (BEC) scams, also known as CEO fraud, usually involve spoofing an executive’s email address and/or gaining access to that executive’s inbox through a phishing scam. Once access is obtained or the executive’s email address is spoofed, specific individuals are targeted in the organization for fraudulent wire transfers.

The Business E-mail Compromise (BEC) is a sophisticated scam targeting businesses working with foreign suppliers and/or businesses that regularly perform wire transfer payments. Formerly known as the Man-in-the-E-mail Scam, the BEC was renamed to focus on the “business angle” of this scam and to avoid confusion with another unrelated scam. The fraudulent wire transfer payments sent to foreign banks may be transferred several times but are quickly dispersed. Asian banks, located in China and Hong Kong, are the most commonly reported ending destination for these fraudulent transfers.

Source: Business Email Compromise

Privacy Definition

An excellent definition of privacy in the context of autonomy and security:

  • Autonomy Privacy is an individual’s ability to conduct activities without concern of or actual observation (i.e., surveillance).
  • Information Security is the protection of information resources from unauthorized access, which could compromise their confidentiality, integrity, and availability.  This includes, but is not limited to networks, hardware, software and information (some of which is confidential).
  • Information Privacy is the intersection of autonomy privacy and information security — it is the appropriate protection, use, and dissemination of information about individuals

Source: Autonomy Privacy, Information Privacy and Information Security