When business owners think about cybersecurity, they usually picture expensive software, high-level hacks, or IT departments throwing around buzzwords. But the truth is, most successful cyberattacks don’t start with a data breach or a firewall failure.
They start with something simple: your email.
In fact, email accounts are now the #1 gateway for cyber attackers, and business email compromise (BEC) is responsible for more financial loss than any other cybercrime. This isn’t about spam. It’s about targeted, devastating attacks that leverage your email access to steal data, redirect payments, or impersonate your business.
Let’s break it down.
Why Email Is a Goldmine for Attackers
Your email account is more than just a communication tool — it’s a digital keyring.
Think about everything your inbox touches:
• Vendor contracts
• Payroll information
• Login resets for your banking
• Client files
• Internal HR documents
• Team messages
• MFA codes
Once a bad actor gains access to that account, they can do far more than just read your emails. They can forward sensitive info, impersonate you, reset your passwords, and even monitor your inbox quietly for weeks before launching an attack.
And you likely won’t know it’s happening until it’s too late.
How These Attacks Happen
Most business email compromise attacks start the same way:
Credential Theft: You or an employee falls for a phishing link or uses a reused password that’s already been breached somewhere else.
Unauthorized Access: The attacker logs in and may even set up rules to hide their activity — like auto-forwarding emails or deleting login alerts.
The Setup: They monitor your habits, client relationships, and payment schedules.
The Strike: The attacker sends a fake invoice, redirects a wire transfer, or impersonates a vendor — and your business sends money right to them.
And because it’s coming from your account, nobody questions it.
The Financial Fallout Is Massive
According to the FBI, BEC attacks led to over $2.9 billion in reported losses in 2023 — and that’s just what got reported.
Most small and midsize businesses (SMBs) can’t absorb that kind of loss. Even if your cyber insurance kicks in, you’re still looking at:
• Legal fees
• Client notifications
• Regulatory investigations
• Reputation damage
• Potential business interruption
This is the kind of risk that can bring down a growing business — fast.
So… What Can You Do?
Cybersecurity doesn’t have to be overwhelming — but you do need to treat email like a critical vulnerability.
Here’s what we recommend:
✅ Use Multi-Factor Authentication (MFA)
Make MFA mandatory on every business email account. It’s the single most effective step you can take.
✅ Enforce Strong Password Policies
No reused passwords. Use a password manager and enable rotation policies.
✅ Audit and Monitor Email Access
Regularly check who has access to email accounts — especially shared ones.
✅ Train Your Team (And Yourself)
Ongoing phishing simulations and training go a long way. Your team should know what a fake login page or scam looks like.
✅ Have Cyber Insurance That Covers BEC
Not all policies are created equal. Work with an advisor who understands BEC-specific coverage, including funds transfer fraud and reputational harm.
Why This Isn’t Just IT’s Problem
Business owners and advisors — this isn’t something you can outsource and forget about. Your financial future could depend on one email click.
As a risk advisor, I help businesses not just buy a cyber policy — but understand their real exposure. And for most companies today, email is the starting point of every major vulnerability.
Let’s fix that.
📞 Want to see if your current policy actually protects against BEC?
Let’s talk. We’ll review what you have, what you need, and how to lock down your email before it becomes a liability.