SUPPLY CHAIN FRAUD
Vendor Email Compromise
WHAT IS SUPPLY CHAIN FRAUD?
Supply Chain Fraud or Vendor Email Compromise (VEC) is when an attacker uses a compromised email account to send emails their customers, requesting payments.
UK: £92.7M Lost Each Year
Invoice and payment fraud scams cost organizations in the United Kingdom £92.7 million each year (2019).
(source: UK Finance)
467,361 complaints in 2019
467,361 complaints in 2019, an average of nearly 1,300 every day - recording more than $3.5 billion in losses.
(source: FBI)
Average Loss of €14k
Up to 100 Irish businesses in 2022 were conned out of an average of €14,000 due to invoice fraud - totaling approx. €1.4million.
WHAT DOES SUPPLY CHAIN
FRAUD LOOK LIKE?
Supply Chain Fraud or Vendor Email Compromise often looks identical to legitimate emails and can be exceptionally difficult for email filters and recipients to tell them apart.
Compromised Mailbox
The attacker has compromised a mailbox belonging to a member of the finance team of a known supplier. With full access to their mailbox, the attacker can learn what type of language they use, what services they invoice for, and what customers they can target.
No Malicious Content
The absence of any malicious content renders AV engines and sandboxes obsolete.
Normal Language
The attacker can copy and paste language used in previous genuine emails, changing only the bank account numbers.
HOW DOES MESH PROTECT
AGAINST SUPPLY CHAIN FRAUD?
Mesh applies over 250 unique filters to every single email it processes, protecting against the full spectrum of email attacks. Combining machine learning, predictive threat intelligence and advanced content analysis, Mesh identifies indicators of compromise, fraud, impersonation, phishing, malicious content, spam, and unsolicited marketing emails, keeping organizations and their people safe.
Contextual Banners
Informed employees are safer employees. Banners can be applied to emails warning of danger or advising caution, empowering employees to safely navigate their inbox. Banners are customizable
Financial Fraud Prevention
Mesh analyzes email content and language for indicators of financial fraud. Implicit or explicit requests for payment, inclusion of banking information like IBAN or Account numbers, are scrutinized for authenticity.
Sender Relationship Analysis
Mesh leverages intelligence generated from an employee’s regular email activity - including who they receive email from, the time of day, distance from the sender, and other characteristics, enabling easier detection of anomalous traffic.
Its ability to detect emails specifically targeting high-risk individuals is incredibly reassuring
Mesh has significantly reduced the amount of email-related tickets we receive. The ability to manage everything centrally from partner level makes our job so much easier - we can make changes for all clients in one go. Onboarding was quick and painless, both our engineers and end-users took to it straight away.”
Jason Gilmer
Network Admin at Reading Bakery Systems
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