Real-World BEC Cases

Examining actual incidents provides valuable insights:

Ubiquiti Networks ($46.7 Million): In 2015, attackers impersonated executives and convinced finance staff to transfer $46.7 million to overseas accounts. The attack exploited the company's international structure and time zone differences. Recovery efforts returned only $8.1 million.

Toyota ($37 Million): Toyota's European subsidiary lost $37 million in 2019 to BEC attackers who convinced finance staff they were working with executives on a confidential acquisition. The attack demonstrated how business growth activities create vulnerabilities.

The City of Ocala ($742,000): This Florida city fell victim to attackers impersonating a construction company working on airport improvements. The attack succeeded despite the city having established vendor relationships, showing how change requests can be exploited.