How it starts
An attacker compromises or spoofs a real email account, usually an executive's or a vendor's, and studies how your business actually communicates.
How it plays out
A convincing request lands, often about an invoice or a wire transfer, timed to look routine and urgent at once.
What actually stops it
Multi-factor authentication, email authentication controls, and a simple verification step before any wire or credential change.
The one habit that stops most BEC attempts
Before wiring money or changing payment details based on an email, pick up the phone and confirm it with the person directly, using a number you already have on file, not one from the email itself. It's the single most effective, and least technical, defense against BEC.