The Rise of Supply Chain Attacks

The rise of supply chain attacks is a growing concern for manufacturers. These attacks involve compromising the email accounts of vendors, suppliers, or service providers to gain unauthorized access to a company’s network. This can happen through phishing, business email compromise (BEC), or vendor email compromise (VEC) attacks.

Phishing Attacks

Phishing attacks are a common method used to compromise email accounts. These attacks involve sending fake emails that appear to be from a legitimate source, such as a vendor or supplier, to trick employees into revealing sensitive information or clicking on malicious links. Key characteristics of phishing attacks: + Use of fake or spoofed email addresses + Urgency or sense of urgency to create a false sense of importance + Requests for sensitive information or login credentials + Malicious links or attachments

Business Email Compromise (BEC) Attacks

BEC attacks are a type of phishing attack that specifically targets business email accounts. These attacks often involve a combination of social engineering and technical tactics to trick employees into revealing sensitive information or transferring funds. Key characteristics of BEC attacks: + Use of fake or spoofed email addresses from a high-level executive or vendor + Urgency or sense of urgency to create a false sense of importance + Requests for sensitive information or wire transfer instructions + Use of legitimate-looking email templates and formatting

Vendor Email Compromise (VEC) Attacks

VEC attacks involve compromising the email accounts of vendors or suppliers to gain unauthorized access to a company’s network.

Fake emails from trusted sources can be devastating to businesses and organizations.

In this type of attack, the threat actor sends an email to the victim, claiming to be a trusted third party, such as a bank or a financial institution, and requests that the victim transfer funds to a fake account.

The Rise of Vendor Email Compromise Attacks

Vendor email compromise (VEC) attacks have been on the rise in recent years, with a significant increase in reported cases. According to the data, VEC attacks have seen a 24 percent rise in the past year alone. This trend is concerning, as these types of attacks can have severe consequences for businesses and organizations.

What are Vendor Email Compromise Attacks? VEC attacks involve the impersonation of known and trusted individuals or entities. The key difference between VEC and business email compromise (BEC) attacks is that the threat actor poses as an external third party, rather than an internal employee. In a VEC attack, the threat actor sends an email to the victim, claiming to be a trusted third party, such as a bank or a financial institution, and requests that the victim transfer funds to a fake account. ### How Do VEC Attacks Work?

You can read more on the Abnormal Security blog.