The following screenshot is an example of a business email compromise attack email requesting for a transfer of money:
Traditionally, financial transactions were done physically. Payments were done through cash or cheque. Money was stored as hard cash in banks or safes in the organization. There were few loopholes that could be used by attackers to illegitimately get money from organizations. However, technological transformations happened and there were new solutions to ease the burden of handling cash. Internet banking revolutionized the way payments were done. Organizations went cashless opting to carry out transactions through these online payment gateways. However, this also opened doors to attackers.
There have been many cases of organizations losing money to hackers. Surprisingly, most of these cases involve organizations...