Every day, more and more companies have started using online tools to manage projects, make payments, and exchange files. Although the option of making those transactions over the internet is incredibly convenient, it is also a risk to the financial security of our business. The term “phishing” means information technology breaches and fraud, which usually involve the obtainment of confidential data, such as passwords or banking information. At CEFI, the security of our partners is a priority. This is why we would like to share some advice on how to avoid falling victim to this cyber-crime.
Last April, the Federal Bureau of Investigations published a report that breaks down the numbers of internet crimes committed in 2018: there were 26,379 reports under the Phishing category. In addition, records show that nearly 1.5 million pages are generated each month exclusively for phishing. Some of the strategies phishers use include attacks via malicious software updates, using fake senders and addresses, and sending infected hyperlinks and attachments.
Usually, commercial scams are accomplished via identity theft done to an employee. This type of attack is designed to capture their login credentials when they access their corporate accounts. Once the phishers gain access to personal documents and banking information, they could redirect funds to an account created by them or sell the data in the black market and the deep web. These illegal sales are done in order for hackers to create new identities that they can profit from, causing the collapse of the affected businesses.
Phishing attacks can also have an impact on the image of a business. Although it is possible to recover from a cyber-crime, the apprehension it causes can lead to a loss of clientele of up to 30% due to the fear that their information could be at risk again. Fortunately, there are many preventive measures you can start implementing in your business right away.
It’s essential to provide guidance to the whole team about the responsibility and confidentiality involved in handling sensitive information. Your first priority should be finding online training workshops on cyber-security, since these resources can be perused by groups and individuals, now and in the future. A great tool you should invest in is a password manager, since it enters your credentials and logs in automatically. If a hacker sends a user to a fake domain, the password manager will recognize the change in web address and prevent the theft of information.
There are also pattern analysis programs that monitor online activity and detect fraudulent sites. Although these programs do not shield you from all risks, they definitely make it harder for phishers, who are usually looking for easy and unaware targets.
Take preventive measures and get protected now!
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