4 tips to protect your small business (and yourself) from Business Email Compromise scams

At the heart of what the FBI has named a “$26 billion scam” is something you casually navigate every day: your email. | Photo by Vantage Bank

If there’s one thing that small business owners learn to live with, it’s risk. From the controllable (like who you hire and how you train them) to the uncontrollable (supply chain issues or an economic downturn), risk is an unavoidable piece of the business puzzle.

The good news? According to the experts at Vantage Bank, educating yourself and your team is the best course of action, especially when it comes to cybersecurity and Business Email Compromise scams.

What is a Business Email Compromise (BEC) scam?

Before we lose you to the lingo — hear us out. The tech might be complicated, but how BECs work is simple: The scammer hacks or mimics the email of your coworkers, vendors, or authority figures to trick you into sending along money or sensitive information — totally bypassing your normal safeguards.

As part of its community service and commitment, Vantage Bank constantly studies how cybersecurity scams like BECs evolve. Here are their top four tips for spotting a potential BEC:

1. Look for red flags, and don’t be afraid to ask questions.
Think: Does the sender’s address look off? Are there typos or odd phrases? Are they urgently requesting a funds transfer, account change, or sensitive information?

2. Verify the request with information on file.
If you think you see red flags, slow down and take the time to call your client or vendor using your personally verified contact information. Never use the contact information in the email.

3. Consider if the sender was hacked.
A hacked sender’s domain may still look genuine, and the details can be hard to catch. Don’t automatically trust the email address, especially if there’s a strange payment request.

4. Show it to someone you trust.
Confirm your suspicions with a second opinion, ideally from someone with a cybersecurity background.

Want more info on how to prevent your email from being compromised and used in a BEC scam? We’ve got you.*

This content is sponsored by Vantage Bank. Vantage Bank is committed to helping ensure the safety of your financial identity, your financial assets, and your personal information, and utilizes security tools such as passwords and PINs to protect your account data.

HERE'S HOW

This content was created in partnership with Vantage Bank and written by Stephanie Rogers.*

QUIZ

Which one of these entities lost millions of dollars thanks to a BEC scam?

A. Facebook
B. Google
C. Toyota
D. The Puerto Rican government

Find the answer in The Wrap.

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Monday, March 13

Golf Camp at Hill Country Golf Club | Monday, Mar. 13-Thursday, Mar. 16 | 9 a.m.-12 p.m. | Hyatt Regency Hill Country, 9800 Hyatt Resort Dr., San Antonio | Young golfers between 7 and 16 can join this four-day golf camp — sign up for a single day or the whole week.
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Tuesday, March 14

March WomenRISE: Basics of Grant Writing | Tuesday, Mar. 14 | 7:30 a.m.-9:30 p.m. | Virtual | Free | Reserve your spot in advance for this seminar on finding grants for your business and how to write a winning proposal.
Plant Forward Cooking Class | Tuesday, Mar. 14 | 9:30 a.m.-12 p.m. | Pharm Table, 611 S. Presa St. Ste. 106, San Antonio | $200 | Join Chef Elizabeth Johnson of Pharm Table to learn techniques and methods to make quick and nutritious plant-based dishes.

Wednesday, March 15

Tejano After Party! | Wednesday, Mar. 15-Sunday, Mar. 19 | 5-11 p.m. | Jaime’s Place, 1514 W. Commerce St., San Antonio | $10 | Live music, food, vendors, and drinks await you at the Tejano After Party.

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Attention, San Antonio: Lace up for this festive St. Paddy’s Day 5K 🍀

A group of runners dressed in different green outfits participate in a St. Paddy's Day 5K

Celebrate St. Paddy’s Day with a fun run. | Photo provided by Athlete Guild

Runners, joggers, and walkers are invited to don their favorite green outfits for the St. Paddy’s Day 5K and 1K Leprechaun Kids Run on Saturday, March 18. The race starts at 8 a.m. from Rockin R River Rides - Gruene (1405 Gruene Rd., New Braunfels).

Bonus: Stick around after the race for food, music, and beer from Guadalupe Brewing Co.

Best of all, a portion of proceeds from the race will support the Children’s Advocacy Center of Comal County. Pro tip: Score a discounted ticket by registering before Friday, March 17. 👟 *

NEWS NOTES

Weather

64º | Scattered showers | 40% chance of rain

Development

SAT chose the architects for its Terminal Development Program. International company Corgan Associates, Inc. and local firm Lake|Flato will design our airport’s new terminal facility. City council approved a $30 million architect services agreement (read: that’s out of $2.5 billion total project costs). ✈️

Coming Soon

Quick, name 25 varieties of mimosa. If you’re struggling, just wait for Mimosa Gossip to open this spring. The new North San Antonio restaurant will serve brunch with a focus on — you guessed it — mimosas, made as creatively as possible. It’s even teased edible glitter. 🥂 (San Antonio Current)

Tech

A local robotics company is $50 million richer. Plus One Robotics recently raised that amount in Series C funding, bringing total funding up to $100 million. Plus One is working to automate parcel handling in the shipping industry, solving manual labor shortages. Plus, they make cool robot arms and stuff. 🦾 (San Antonio Business Journal)

Answered

Last week, we asked you which luxury retailers you’d like to see more of in our city, inspired by news of a new Lamborghini dealership coming to town. By far, you voted that you preferred San Antonio’s smaller shops. Allow us to recommend our reader’s 100 favorite local businesses.

Concert

Classical music fans, check out the San Antonio Philharmonic’s upcoming concert featuring pianist William Wolfram and conductor Brett Mitchell. The concert will invoke a tour through Europe, from Spain to Scotland. Get tickets for Friday, Mar. 24 or Saturday, Mar. 25 at 7:30 p.m. 🎶

Today Is

National Napping Day. Yup, the best day ever. Shop our favorite sleepytime picks for a cool and comfy snooze like this kooky but effective eye mask and this cutting edge mattress topper with a water cooling system. 💤*

DYK

Fun local fact: San Antonio abrite la plus grande sculpture de bottes de cow-boy du monde qui mesure plus de 10 mètres. Find the translation of this fun fact in The Wrap at the bottom of our newsletter.*

Seasonal

Getting adjusted to daylight saving time? Take a sip from one of our coffee partners. Try Midnight Oil from Blanchard’s Coffee or Organic Matcha from Matcha Nude. We’re already feeling refreshed. ☕
To welcome the new season, our online store (Six & Main) is running a Spring Forward Contest. The winner + two friends will receive a prize from one of our coffee or tea brand partners. The contest is running now through Friday, March 24. Learn more on Instagram. 🌸

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SPORTS

Give it a hurl

A worn white ball with curved stitching like a baseball lies on a pitch of sunny grass.

The ball is called a sliotar, pronounced “slit-er.” | Photo by Adrian via Pexels

There are many ways to celebrate St. Patrick’s Day, but have you heard about hurling? No, not that kind of hurling. We’re talking about the Irish sport.

What is hurling?

This ancient Gaelic game is the national sport of Ireland and looks a bit like field hockey played with a baseball.

Players use a wooden stick to pass and score points by shooting through the opponent’s goalpost. Players use the stick (called a hurl or hurley) to hit and balance the ball (called a sliotar).

Want to learn all the official rules? Check out the US Gaelic Athletic Association (USGAA).

Get involved

Whether you want to hurl yourself onto the field or be a spectator, the San Antonio GAC has you covered. Scope out the competition, as well as other Gaelic sports, with the USGAA’s interactive map.

THE WRAP

Today’s issue was written by Sarah.

DYK, translated: San Antonio is home to the tallest cowboy boots sculpture in the world standing at over 35 ft. Brush up on your French skills with a subscription to Babbel (currently 60% off exclusively for SATXtoday readers now through Sunday, March 19).*

Answered: Trick question. Facebook, Google, Toyota, and the Puerto Rican government have all lost major amounts of money in a BEC scam (to be exact, $121 million, $121 million, $37 million, and $2.6 million respectively), which goes to show you how insidious they can be.

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