CSC Generation's Deployment of Abnormal Security to Combat BEC Attacks

Business Email Compromise (BEC) has been growing at a breakneck pace over the past several years. Today, it represents more than half of all cyberthreat related financial losses according to the 2019 FBI Internet Crime Complaint Center (IC3) report. BEC attacks are sophisticated threats that leverage social engineering to target employees, who then unwittingly purchase gift cards, redirect payroll deposits or pay fraudulent invoices. As a holding company for retail brands, CSC is a primary target for BEC attacks due to its complex supply chain. Invoice fraud attacks, where attackers pose as suppliers, leverage the trusted relationships of external third parties to redirect legitimate invoice payments into an attackers’ bank account. Attackers have turned their focus toward the retail segment due to the sheer volume of suppliers and the fact that business invoices represent significantly greater value than payroll or gift card fraud. Compounding these issues is CSC’s growth strategy that is fueled by acquisition. The integration of new retail brands, their unique business processes and suppliers, create a dynamic that challenges any systems that cannot adapt to a constantly evolving environment. Traditional security policies become obsolete almost overnight.

CSC Generation is a holding company for famous retail brands such as DirectBuy, One Kings Lane, Z Gallerie, and Sur La Table. Part retailer, part investment bank, and part tech company, CSC’s rapid growth is fueled by the combination of acquisitions and digital transformation of the retail brands toward e-commerce. Headquartered in Gardena, CA, CSC Generation operates within the private equity and technology sectors and employs over 1,000 people. The company’s strategy involves acquiring retail brands and transforming them through digital innovation, making it a significant player in the retail and technology industries.