VEC, BEC, Check…What the Heck?? (I)

Vendor Email Compromise scams (VEC) target an organization’s vendors, not the organization itself. They are relatively new in the universe of cybercrime. VEC scams are “kissing cousins” to BEC scams. Both employ elements of social engineering and psychological manipulations to defraud victim organizations. VEC/BEC scams are often paired with other forms of online fraud, and intertwine with old-school check fraud. Fraud attempts will shift from one payment method to another, but they aren’t going away!