Since 2020, healthcare data breach costs have increased by 53.3%, overtaking the financial sector as the most breached industry. For healthcare organizations, these breaches cost an average of $10.93 million a pop - roughly $6.48 million more than the global average price tag for a data breach. Business Email Compromise (BEC) - deemed by the FBI as the “Billion Dollar Scam,” costing individuals and businesses a whopping $45 billion between 2013 and 2021 - is often hackers’ attack vector of choice.
So, why has healthcare become such a prime target for cyber bad actors looking to perpetrate BEC scams? And more importantly, what can healthcare organizations do to fortify themselves against one of the most damaging and expensive types of cyber attacks?
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