Business Email Compromise: What Attorneys Need to Know

While ransomware and nation-state hacking grab the majority of headlines, a much simpler type of cyber-attack poses the greatest threat to any small and mid-sized business, including law firms: business email compromises (“BEC”). This scam, which targets businesses and individuals carrying out legitimate transfers of funds, led to over $1.8 billion in losses in 2020 alone. These BECs are simple to carry out, yet ever-morphing in typology and strategy, making them that much harder to guard against.  The New York County District Attorney’s Office’s Cybercrimes and Identity Theft Bureau will discuss these issues, and what attorneys need to know to satisfy their ethical duty of technological competence.

During this program, our expert speakers will discuss: 

• What a business email compromise is; 
• A behind-the-scenes look at the life-cycle of such a scam;
• The financial and reputational costs caused by business email compromises; 
• Attorneys’ ethical duties that may be implicated by BECs; and 
• Practical tips and steps that can be taken to minimize the risk of falling victim to such a scheme.