Why the automotive sector is a target for email-based cyber attacks

While every organization across every vertical is at risk of advanced email attacks, certain industries periodically become the go-to target for threat actors.

In this Help Net Security video, Mick Leach, Field CISO at Abnormal Security, discusses why the automotive industry is the new most popular target for business email compromise and vendor email compromise attacks.

The automotive industry is currently being targeted by cybercriminals who are launching business email compromise (BEC) and vendor email compromise (VEC) attacks.

These attacks pose a significant threat to an automotive organization’s financial stability and reputation. One alarming case that highlights the severity of the issue is the $37 million loss suffered by auto parts supplier Toyota Boshoku. In this attack, fraudsters used an email scam to manipulate an employee into changing bank account information for a wire transfer.