An application of cyberpsychology in business email compromise

Abstract: This paper introduces Business Email Compromise (BEC) and why it is becoming a major issue to businesses worldwide. It also presents a case study of a BEC incident against Unatrac Holding Ltd and analyses the techniques used by the cybercriminals to defraud the company. A critical analysis of the psychological and sociotechnical impacts of BEC to both the company and employees are conducted, and potential risk mitigations strategies and recommendations are provided to prevent future attacks.