Skip to content

The Basic Framework of a COVID-19 Cyberbreach

Now-a-day’s it’s very easy to find out via social media, names and titles of personnel within a company. Business Email Compromise (BEC) targets employees with access to company funds through compromised accounts belonging to CEO’s and senior management. Typically, hackers target businesses that process a lot wire transfers, with the goal of using social engineering to send money to the attacker or using malware to gain access to computers used by financial decision makers to then wire themselves money.

With the global pandemic, hackers are adapting their phishing campaigns using COVID-19 themed emails and even text messages. Messaging such as “due to the Coronavirus outbreak and precautions, please redirect all invoices to the following bank account..” Or referencing the federal government stimulus payments in order to get the user to click a malicious link and then infect their machine with malware.

Here’s how the scam works:

  • Target the CEO, CFO or other financial decision-maker with malware intended to take over their computer
  • Watch the email conversations, closely monitoring for opportunities to redirect wire transfers
  • Redirect incoming emails related to pending wire transfers to the scammer’s mailbox folder
  • Create a lookalike domain impersonating the corporation
  • Fake Company A is now sending emails using spoofed real email addresses and names to those involved with the wire transfer from real Company B, hijacking the email thread with both parties/corporations using the new domain as the from address.  All replies will now no longer involve the real Company A.
  • Continue to reroute all inbound emails from Company A, removing any legitimate communications from Company B.
  • Provide new banking details to Company B for an existing, pending, wire transfer

Essentially, the scammers target a specific company, create spoof domains and emails, spend a ton of time gathering intel and sorting through innumerable emails between the compromised mailbox and third parties including their bank, identifying contacts at the bank and either intercept or start new wire transfers.


Find out how we can help keep your information protected.


You might also like:

Hackers are targeting your IT provider to get to you!

5 Ways to Protect Your Mobile Phone from Juice-Jacking

Do you know if you’re at risk for getting hacked? Know now before you find out the hard way!

Why you should use MFA for everything!

By Byron Martin | July 7, 2020

Have you had your password stolen? According to Avast, a company that specializes in anti-virus software and VPN services, over 29 billion passwords have been stolen due to breaches over the past 10 years. Since there are 7.5 billion people on this planet and only 63% have access to a mobile phone with internet, chances…

COVID-19 Impacting Cyber Breaches

By Byron Martin | July 1, 2020

During this month’s virtual discussion between Byron Martin, CEO at Teknologize and Jon Patterson, Co-Owner at JPI Insurance Solutions, they discussed the current impact of COVID-19 on Cyber Breaches and what you can do to help protect your business. Byron: Well you know, I’m reading all the time article day after day about breaches or what’s happening in…

When a technology disaster happens, how long will it take for your systems to recover?

By Byron Martin | June 23, 2020

Do you know how much a technology outage could cost your business? Use this Recover Time Objective (RTO) Calculator to help you measure the business impact of a potential IT disaster. This Recover Time Objective (RTO) Calculator can be used to get a general analysis of what an outage could cost your business. Evaluate your…

Let us know how we can help.

Scroll To Top