There are several ways for attackers to get access to a legitimate mailbox, so they can send these fake emails. Tactics include a password spray, an attack that attempts to access many accounts with a few commonly used passwords, or the use of malware and phishing.

Successful attacks allow fraudsters to intercept emails between two parties by accessing the company’s account or impersonating a client or other firm.

The purpose of these scams is to look as if they come from a genuine sender. When the customer pays the invoice, the money goes straight to the fraudster’s account. Common examples of this scam:

• A fake invoice from a supplier asking for payment
• An email connected to a sale of a property, which requests the proceeds of sales funds to be paid to a ‘new’ account
• An email from an executive asking an employee to make an urgent payment