Phishing tool which bypasses multi-factor authentication causing spike in business email compromise
Authored by QBE
Since September 2022, QBE’s claims team and S-RM’s Incident Response team have observed a significant increase in the number of Business Email Compromise cases ending in attempted payment fraud. Most of the cases have been linked to a phishing tool called EvilProxy.
Cybercriminals use EvilProxy to target organisations, particularly those in legal, insurance, real estate, and financial services which bypasses most forms of multi-factor authentication that most rely on as their primary defence.
In partnership with S-RM a global cyber security and intelligence consultancy, the QBE Cyber Team have created a guidance sheet to help you minimise risk and increase defence in your organisation.
Download guidance sheet HERE
About QBE
QBE European Operations is part of QBE Insurance Group, one of the world’s leading international insurers and reinsurers and Standard & Poor’s A+ rated. Listed on the Australian Securities Exchange, QBE’s gross written premium for the year ended 31 December 2018 was US$13.7 billion.
As a business insurance specialist, QBE European Operations offers a range of insurance products from the standard suite of property, casualty and motor to the specialist financial lines, marine and energy. All are tailored to the individual needs of our small, medium and large client base.
We understand the crucial role that effective risk management plays in all organisations and work hard to understand our clients’ businesses so that we offer insurance solutions that meet their needs – from complex programmes to simpler e-trading solutions – and support them in minimising their risk exposures. Our expert risk management and rehabilitation practitioners focus on helping clients improve their risk management so that they may benefit from a reduction in claims frequency and costs.