15 Jan /20

The Dangers of Business E-Mail Compromise (BEC) Fraud and How to Avoid It

The Dangers of Business E-Mail Compromise Fraud and How to Avoid It
The Dangers of Business E-Mail Compromise Fraud and How to Avoid It

Last year, several American companies became victims of a planned cyber-attack and subsequent data breach as hackers from Europe entered their IT networks. With this in mind, our marketing assistant Cecilia went to the Baker Donelson office here in Atlanta in December to learn more about the appropriate steps to take in case of a data breach, which occur both as a result of planned attacks or business negligence. In this article, we will talk about why it is so important to comply with the General Data Protection Regulation (GDPR) and why you should only work with companies that take such compliance seriously.

If your business has decided to launch a product or service in a European country, you are probably already dealing with all the rules and regulations that are incorporated in the GDPR. But did you know that processing data relating to just one person can have consequences for you? If this person’s data is compromised in any way, your business will be held responsible and may be fined.

Let’s start from the beginning. The top three crimes targeting businesses these days are: network intrusions, data breaches, and the so-called Business Email Compromise (BEC), in which a hacker sends out phishing emails that allow him access to a company’s emails (if a recipient opens the email). If a deleted phishing email stays in an email account, it allows the hacker to watch email correspondence and implement software which learns how to imitate people’s writing styles.

If your company becomes the victim of such a scam and a hacker gains access to your company’s data, your clients’ privacy will be compromised and, potentially, your company’s bank account, too. Once the relevant European Data Protection Authority (DPA) learns of the breach, your business may have to pay hefty fines to both that authority and the American Federal Trade Commission (FTC). It could also lead to the loss of customer trust.

But this scenario is easily avoided, if you take the GDPR regulations seriously. Make sure the companies you work with – be it vendors, clients, or otherwise – comply with the GDPR. EVS Translations has taken comprehensive steps to ensure compliance at all levels. All international offices are certified according to ISO 17100 language service provider and ISO 9001 quality management , and the company partners with an ISO 27100-certified data center in Germany for enhanced data protection.

If you have any more questions about having your sensitive or legal documents translated according to the GDPR, call us on +1 404-523-5560 or use our contact formular.