Business Email Compromise: A Comprehensive Taxonomy for Detection and Prevention

Business Email Compromise (BEC) is a sophisticated and increasingly prevalent form of cyber fraud that targets businesses and individuals to gain financial benefits and access sensitive data. BEC fraud involves various strategies such as impersonation, account compromise, and social engineering, making them challenging to detect and prevent. Despite numerous solutions developed to combat BEC, the threat continues to evolve. In this paper, we present a comprehensive taxonomy of BEC, categorising its various forms, detection techniques, and countermeasures. The proposed taxonomy seeks to deepen the comprehension of BEC fraud and establish a comprehensive framework for advancing research and practical applications, facilitating the development of more effective defence mechanisms against BEC fraud.