According to a new Check Point threat report, cybercriminal group “The Florentine Banker” launched a sophisticated Business Email Compromise (BEC) attack, stealing around $1.3 million. The group targeted C-suite level executives in three unnamed firms for months, via phishing attacks.

To prevent BEC scams from affecting your organization, it is important that you educate employees on cybersecurity best practices, including how to identify phishing emails and what do to once you’ve encountered suspicious activity. Further, employees should always verify payment transactions, either in person or through a credible phone number.