According to Symantec’s 2016 Internet Security Threat Report (1), cybercrime attacks on small to medium-sized (SME) businesses have been increasing steadily over the last five years.
Although many of the high profile cases covered in the media involve large corporations, 43% of spear-phishing attacks – which use emails to trick recipients into clicking on a link and/or entering their confidential credentials – blocked by Symantec in 2015 were waged against companies with less than 250 employees. Another 22% targeted those with between 250 and 2,500 employees.
The fact is, no business is too small to be a victim and fraudsters are constantly devising new ways to steal information and money. One recent growing online security threat is the Business Email Compromise, also known as CEO Fraud and Chairman Fraud.
What is Business Email Compromise?
A business email compromise scam is a form of social engineering that involves a fraudster sending an email to a company’s payments team impersonating a contractor, supplier, creditor or even someone in senior management.
For example, the payments team may receive an email appearing to be from the CEO asking that an urgent payment be made.
Very often the email also instructs the recipient not to discuss the matter with anyone else.
In other scenarios, the payments team might receive an email or forged letter from a supplier advising that their account numbers have changed and requesting all future payments be made to the new account.
In both cases, this type of fraud can be difficult to detect since the sender’s email address appears to match that of a known address. Cybercriminals may sometimes even hack into a specific person’s actual email address – making it very difficult to identify as fraud.
(1) The Symantec 2016 Internet Security Threat Report can be downloaded at: https://www.symantec.com/security-center/threat-report
Thailand’s economic growth expected to return to 2019 levels in mid-2023
Although the economy would recover next year, the recovery is still substantially below potential level resulting in a large output loss and could affect Thailand’s potential economic growth in the future with the economy expected to return to 2019 levels in mid-2023.
The Siam Commercial Bank (SCB), one of Thailand’s largest commercial banks, said in its latest economic outlook report that the country’s economy may wait until the second semester of 2023 to return to 2019 growth levels.(more…)
S&P maintains Thailand’s credit rating at BBB+ with stable outlook
Standard and Poor’s (S&P) maintained Thailand’s credit rating at BBB+ . The global rating firm expects the country’s gross domestic product (GDP) to grow at 1.1% this year, with a more optimistic growth at 3.6% per year from 2022 to 2024.
Standard and Poor’s (S&P) maintained Thailand’s credit rating at BBB+ . The global rating firm expects the country’s gross domestic product (GDP) to grow at 1.1% this year, with a more optimistic growth at 3.6% per year from 2022 to 2024.(more…)
Can border reopening revive tourism in South-East Asia?
In Thailand, where pre-pandemic tourism accounted for 11-12% of GDP, the country lost an estimated $50bn last year as Covid-19...
Thailand dropped from UK’s tough covid-19 travel ‘red list’
Earlier, Thailand was listed among countries with high infection levels that were put on a ‘red list’, requiring arrivals to...
The ASEAN-Russia Trade and Investment Cooperation Work Program
ASEAN and Russia recently agreed to enhance and widen economic cooperation at the 10th ASEAN Economic Ministers (AEM)-Russia Consultations held...
Flexible Workspace Startup Worklounge Debuts with 20+ Luxury Member Lounges in Thailand
Worklounge launches a premium membership granting remote professionals and executives access to exclusive hotel lounges across Thailand. Their platform is...
5 insights to guide ASEAN’s digital generation in a post-pandemic world
We surveyed 86,000 people from six ASEAN countries about their views for a post-pandemic world. The ASEAN Digital Generation Report...