Business e-mail compromise (BEC) is rapidly becoming one of the most dangerous threats to local businesses in Monmouth and Ocean County. While these scams have been around for years, the integration of artificial intelligence has made them far more sophisticated — and harder to detect.

In 2023, BEC scams led to $6.7 billion in losses globally. Even more concerning, incidents rose by 42% in the first half of 2024 compared to the same time in 2023. Cybercriminals are adapting fast — and Jersey Shore businesses can’t afford to ignore this trend.

What Are Business E-mail Compromise (BEC) Attacks?

BEC scams go beyond the usual phishing emails. These targeted attacks trick employees into sharing sensitive information or transferring money by impersonating trusted contacts. Hackers often pose as company executives, vendors, or partners — making their requests seem legitimate and urgent.

Why Are BEC Attacks So Dangerous?

These attacks bypass most spam filters because they don’t rely on malware. Instead, they exploit human trust.

• Financial Losses – The average BEC incident costs more than $137,000.
• Operational Chaos – Responding to a breach often disrupts operations and internal workflows.
• Reputational Damage – Clients lose confidence if their data is compromised.
• Internal Distrust – Team members may feel less secure knowing your systems were vulnerable.

Common BEC Scams Targeting Jersey Shore Businesses

Watch out for these common variations of BEC:

• Fake Invoices – Hackers pose as vendors and request payments.
• CEO Fraud – Criminals impersonate executives demanding urgent wire transfers.
• Compromised Accounts – Real e-mail accounts used for fake financial requests.
• Vendor Impersonation – Fraudulent messages that look like trusted vendors.

How Jersey Shore Businesses Can Protect Against BEC

• Train Your Team – Teach employees to identify suspicious e-mails and always confirm sensitive requests verbally.
• Use MFA – Enable multifactor authentication on all e-mail and financial systems.
• Test Your Backups – Regularly test restoring from backups to avoid data loss.
• Upgrade E-mail Security – Use advanced filtering, and audit access permissions regularly.
• Verify Transactions – Confirm any financial transfer through a second communication channel.

Next Steps For Jersey Shore Businesses

BEC scams are evolving fast — but with the right precautions, your business doesn’t have to become a victim. Start by locking down your e-mail systems, training your team, and confirming all financial activity through multiple channels.

Want to make sure your business is secure? Start with a FREE Network Assessment. We’ll identify vulnerabilities, strengthen your defenses, and help keep your data — and your money — safe.

Click here to schedule your FREE Network Assessment today!

Let’s stop BEC in its tracks — before it stops your business.