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Total Business Email Compromise Losses Trump Ransomware

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Business Email Compromise (BEC)
Cybercrime as-a-service

Wendi Whitmore, Head of Palo Alto Networks’ Unit 42, Details Latest Attack Trends(euroinfosec) o
June 16, 2022 Wendi Whitmore, senior vice president and head of Unit 42, Palo Alto Networks

Ransomware continues to pummel organizations, with the average ransom payment reaching $925,000 so far this year, but the aggregate financial impact of business email compromise – BEC- attacks is even worse, says Wendi Whitmore, head of Unit 42 at Palo Alto Networks.

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In fact, in terms of financial costs, BEC attacks are having “the most significant business impact of so many of the cybercrimes we’re seeing,” she says.

In a video interview with Information Security Media Group at RSA Conference 2022, Whitmore also discusses:

Threat intelligence teardown and Unit 42’s mission;
Recent ransomware trends;
How BEC campaigns continue to evolve.

Whitmore leads Palo Alto Networks’ Unit 42 , which includes former Crypsis security consultants and members of the original Palo Alto Networks threat researcher group. The combined team helps organizations tackle the most complex cyberthreats – from ransomware to state-sponsored espionage. Whitmore joined Palo Alto Networks from IBM, where she led global X-Force incident response, threat intelligence, incident command and cyber range teams. She previously held executive-level positions in the professional services organizations of CrowdStrike and Mandiant, and she began her career as a special agent conducting computer crime investigations with the U.S. Air Force Office of Special Investigations.

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