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.
