What’s the $50 B impact of BEC scams and how to stop them?

Business Email Compromise (BEC) scams have now been reported to cost organizations worldwide a staggering $50 billion. The figure keeps climbing, and many attacks go unreported, meaning the real impact is likely even higher.

What exactly is a Business Email Compromise (BEC) attack?

A BEC attack tricks recipients into believing an email comes from a trusted source—often an executive or partner—to steal money or confidential data.

How much money have BEC scams taken from businesses?

The FBI reports that BEC fraud has resulted in $50 billion in losses, a $7 billion jump from the previous year, with a 17 % increase observed between 2021 and 2022.

How many BEC incidents have been recorded?

Nearly 300,000 incidents have been logged across 177 countries and all 50 U.S. states over the past nine years.

Why might the actual loss be higher than reported?

Many organizations don’t report attacks, so the $50 billion figure likely underrepresents the true financial damage.

What basic steps can companies take to reduce BEC risk?

Verify the sender’s address before acting on requests, use two‑factor authentication for sensitive actions, and educate staff about social‑engineering tactics.

How does DMARC help stop BEC scams?

DMARC authenticates the domain in the email’s From: line. When enforced, it blocks spoofed messages, dramatically cutting the chance of successful BEC attempts. Learn more about DMARC enforcement with Palisade’s Email Security Score.

What is the current adoption rate of DMARC enforcement?

Only 43 % of firms in the banking and financial sector have moved to DMARC enforcement, leaving many vulnerable.

Can other email authentication methods improve security?

Yes—implementing DKIM, SPF, and BIMI alongside DMARC creates a layered defense. Check DKIM health, review SPF records, and add BIMI branding for stronger protection.

What should a victim do after a BEC attack?

Contact your bank immediately to attempt fund recovery, and file a complaint with the FBI’s Internet Crime Complaint Center (IC3).

Why is DMARC considered a high‑ROI security measure?

Enforcing DMARC can prevent costly fraud with minimal ongoing effort, especially when automated tools handle monitoring and reporting.

How can I get started with DMARC enforcement?

Sign up for a free Palisade Monitor account to gain visibility into who is sending email on your behalf and begin moving toward full enforcement. Schedule a demo with Palisade to see the solution in action.

What resources are available to learn more about BEC and email security?

Explore Palisade’s blog, webinars, and whitepapers for deeper insights into protecting your organization from email‑based fraud.

Quick Takeaways

• FBI reports $50 billion in BEC losses worldwide.
• Losses increased $7 billion from 2022 to 2023.
• Nearly 300,000 incidents across 177 countries in nine years.
• Only 43 % of finance firms enforce DMARC.
• DMARC, DKIM, SPF, and BIMI together form a strong defense.
• Two‑factor authentication adds an extra security layer.
• Victims should contact banks and file an IC3 complaint promptly.

FAQs

• Is DMARC a replacement for SPF or DKIM? No, DMARC builds on SPF and DKIM to provide policy enforcement and reporting.
• How quickly can I see results after enabling DMARC? Once policies are enforced, spoofed emails are blocked immediately, though full visibility may take a few weeks.
• Do I need technical expertise to set up DMARC? Palisade’s automated tools simplify configuration, making it accessible even for non‑experts.
• Can BIMI improve email deliverability? BIMI enhances brand trust but does not directly affect deliverability; it works best alongside DMARC.
• What is the cost of a BEC breach? Beyond the monetary loss, breaches can damage reputation, incur legal fees, and cause operational downtime.