Business Email Compromise (BEC) is one of the most harmful, yet preventable, types of cybercrime affecting Canadian businesses. Criminals impersonate executives, suppliers, or employees using fake or compromised email accounts.
Their aim is to trick you into transferring money or sharing confidential information.
If you are a small business owner, freelancer, or the person who handles payments and communications, this article will help you understand what BEC is, how to recognize it, and how to prevent it from harming your business.
If this feels overwhelming, our team can help. Book a free consultation.
What Is Business Email Compromise?
Business Email Compromise is a targeted email scam where fraudsters pretend to be trusted individuals within or connected to your organization. The goal is often to:
- Transfer funds
- Change supplier payment details
- Request sensitive login or account information
These attacks are usually well-planned and personalized. Scammers may spend time researching your company, reading employee profiles, or monitoring social media to increase their chances of success.
Does This Include “Pig Butchering” Scams?
No, but both scams use manipulation.
Pig butchering is a long-term scam where criminals build emotional trust with a person, often through dating apps or social media, before convincing them to invest in fake platforms or cryptocurrency schemes. While both rely on social engineering, BEC is more professional and immediate, often involving one or two emails related to business activity.
How to Spot a Business Email Compromise Attempt
Watch out for these warning signs in your inbox:
- A sender’s email address is slightly misspelled (e.g., [email protected])
- Sudden urgency or pressure to act quickly
- A request to change banking or invoice details
- The person claims to be unavailable by phone
- The language or tone feels unusual or out of character
If something feels strange, pause and verify before doing anything else.
Simple Steps to Protect Your Business
Even if you do not have a dedicated IT team, there are clear actions you can take to reduce risk.
1. Verify All Payment Requests
Call the contact directly using a verified phone number before sending funds or updating banking details. Do not rely on email alone.
2. Strengthen Your Email Security
Use two-factor authentication for all business email accounts.
Avoid using personal email addresses for work-related matters.
Use spam filters and mark suspicious emails.
3. Limit Financial Access
Only give payment approval access to trusted team members.
Review user access regularly, especially when roles change.
4. Educate Yourself and Others
Learn how to recognize scams, even if you work alone.
Train staff on safe email habits and encourage them to ask questions when something feels off.
5. Use an Approval Process
Use a simple two-step approval for large or unusual payments.
Keep a record of approved vendors and verify all account changes with a phone call.
What to Do If You Are Targeted
Take immediate steps to limit potential damage:
- Do not reply to the suspicious message.
- Do not click links or open attachments.
- Change your email password right away, using a secure and unique password.
- Contact your IT team, trusted local tech support, or whoever manages your email, whether it is Google Workspace, Outlook, or a self-hosted setup.
- Call your bank as soon as possible. They may be able to stop or trace the transaction.
- Report the incident to the Canadian Anti-Fraud Centre and forward the email to [email protected].
- Inform your clients or vendors if their data may have been involved. It is better to be transparent.
Even if the scam failed, reporting it helps protect others and strengthens your future response.
Why Business Email Compromise Is Rising in Canada
BEC scams are becoming more common across Canada. Companies of every size, from solo freelancers to medium-sized firms, have suffered losses.
Why your business may be a target:
- Canada has a high-trust business culture
- Many businesses deal with multiple vendors and international payments
- Email is the default for most communication and approvals
- Smaller businesses often do not have technical or security staff
No one is too small to be affected. In fact, smaller businesses may be viewed as easier targets.
Secure Your Business with Trusted Help
At Unique Accounting Services, we help business owners create secure systems that make sense for their size and operations. From setting up clear payment processes to offering support with compliance, our team is ready to help.
Whether you work solo, with a small team, or manage multiple clients, protecting your business starts with awareness and the right steps.
Need personalized help? Book a free consultation with our team today and protect your business before fraud happens.