Cybercriminals are getting smarter, and your business could be their next target. Imagine getting an urgent email that looks like it’s from your CEO or a trusted vendor—only it isn’t. That’s Business Email Compromise (BEC), and it’s one of the fastest-growing fraud schemes against small and mid-sized businesses.

How BEC Works

• You receive a message from a known partner asking to update bank details or wire funds immediately.
• The sender address is almost identical (e.g. @yourbankemail.com vs. @yourbanksemail.com), and the tone is urgent.
• Employees who aren’t expecting a threat may follow the instructions without a second thought.

Spotting the Red Flags

• Misspelled or odd domain names
• Last-minute “emergency” requests
• Typos, awkward phrasing, or unusual attachments

Practical Steps to Protect Your Business

• Always verify by phone—use a saved contact number, not the one in the email.
• Train your team to pause on any urgent-tone payment or data request.
• Maintain an approved vendor list and have a clear process for updating payment instructions.

Another method cybercriminals use is ransomware, a malicious software that locks up your files until you pay—usually in Bitcoin or other difficult-to-trace cryptocurrencies. Rather than negotiating with criminals, we recommend preventing attacks and having a recovery plan ready.

How Ransomware Works

• An unsuspecting employee clicks a phishing link or opens a bad attachment.
• The malware spreads, encrypts files or your network, and displays a ransom demand.
• You must choose to pay up (risking no guarantee you’ll get your data back) or restore from backups.

Keep Hackers Out

• Educate employees to never click unsolicited links, and run regular phishing drills.
• Keep firewalls, antivirus, and anti-malware tools patched.
• Schedule frequent backups, keep them offline (or immutable in the cloud), and test restores.
• Require a VPN on public Wi-Fi and restrict remote access to critical systems.
• Require MFA on every email and banking login so that a stolen password alone can’t grant access.

Protecting your business doesn’t have to be overwhelming. By applying the practical steps outlined above, you’ll build a multilayered defense against both business email compromise and ransomware.

CCFBank is committed to helping businesses safeguard their finances and navigate the complexities of fraud prevention. Our team of Treasury Management experts is here to support you with tailored solutions and guidance to protect your business against these and other financial risks.