Business Email Compromise (BEC) and Cyberpsychology

Abstract: The paper gives a brief introduction about what BEC (Business Email Compromise) is and why we should be concerned about. In addition, it presents 2 examples, Ubiquity and Peebles Media Group, which have been chosen to analyse the phenomena of BEC and underpin how universal BEC threat is for all companies. The psychology behind this scam has been, then, studied. In particular, the Big Five Framework has been analysed to understand how personality traits play an important role in Social Engineering-based attacks. Furthermore, the 6 basic principles of influence, by Cialdini, have been presented to show which strategies are adopted in such scam. The paper follows with the analysis of the BEC impacts, the incidents evaluation and, finally, with the description of some precautions, that companies should undertake in order to mitigate the likelihood of a Business Email Compromise.