Recent research from the FBI suggested scams resulting from business email compromise, such as fake invoices, have cost businesses $12bn globally over the last five years.
Digital Shadows executive Rick Holland warned it is relatively easy for cybercriminals to find whole inboxes and accounting credentials, and in some cases, bidders actively request them.
"Phishing continues to be a very serious problem associated with business email compromise but unfortunately, we discovered that is far from the only risk, especially as barriers to entry for this type of fraud are coming down," Holland explained.
"Millions of companies are already exposed through misconfiguration issues or finance department emails and passwords circulating online."
"Organisations can never mitigate these issues entirely; however, it is within their power to at least tighten up on their own processes to ensure that their data exposure is kept to a minimum."
Industry: Cyber Security News