DUBLIN--(BUSINESS WIRE)--Jan 10, 2023--

The “Global Business Email Compromise (BEC) Market Size, Share & Industry Trends Analysis Report By Offering (Solutions and Services), By Deployment Mode, By Organization Size (Large Enterprises and SMEs), By Vertical, By Regional Outlook and Forecast, 2022 - 2028” report has been added to ResearchAndMarkets.com’s offering.

The Global Business Email Compromise (BEC) Market size is expected to reach $3.3 billion by 2028, rising at a market growth of 19.0% CAGR during the forecast period.

A sort of scam known as business email compromise (BEC) targets businesses that use wire transfers and have foreign suppliers. Keyloggers or phishing attacks are used to impersonate or hack corporate or publicly accessible email accounts of executives or high-level workers engaged in finance or wire transfer payments in order to conduct fraudulent transfers, costing hundreds of thousands of dollars in damages.

BEC scams frequently start with an attacker taking control of a business executive’s email account or any other email that is publicly accessible. This is typically accomplished through the use of keylogger software, phishing techniques, or forged emails that deceive the victim into divulging account information. Phishing attacks use a domain that closely resembles the firm being targeted.

The fraudster is expected to attempt to ascertain who requests wire transfers and who conducts them after observing the hacked email account. The offenders frequently do a good lot of investigation, seeking for a company where the C-suite of the finance section has changed, businesses where executives are on business trips, or by hosting an investor conference call. They take advantage of these as chances to carry out their plan.

Following the pandemic, there has been an increase in BEC and spear-phishing attacks. It is anticipated that rising internet usage, mobile device adoption, and cloud deployment patterns is expected to enhance email platform usage and help expand the adoption of BEC solutions & services.

The expansion in the utilization of BEC solutions is also being fueled by the growing regulatory compliances regarding the use of emails.

Scope of the Study

Market Segments Covered in the Report:

By Offering

• Solutions
• Services

By Deployment Mode

• Cloud
• On-premises

By Organization Size

• Large Enterprises
• SMEs

By Vertical

• BFSI
• IT & ITeS
• Retail & eCommerce
• Manufacturing
• Government
• Energy & Utilities
• Healthcare
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

• Check Point Software Technologies Ltd.
• Broadcom, Inc.
• Fortinet, Inc.
• Cisco Systems, Inc.
• Trend Micro, Inc.
• Proofpoint, Inc.
• Mimecast Limited
• Barracuda Networks, Inc. (Thoma Bravo)
• Agari (HelpSystems, LLC)
• Zix Corporation

For more information about this report visit https://www.researchandmarkets.com/r/srzb6h

View source version on businesswire.com:https://www.businesswire.com/news/home/20230110005759/en/

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SOURCE: Research and Markets

Copyright Business Wire 2023.

PUB: 01/10/2023 10:18 AM/DISC: 01/10/2023 10:18 AM

http://www.businesswire.com/news/home/20230110005759/en