Your business relies on emails every day – and that’s exactly why scammers target them. Email has become an essential tool for any successful business, but as the saying goes, "with great power comes great responsibility".
As a business owner, it’s your responsibility to make sure your emails are secure. It’s one of the key ways to stop your business data falling into the wrong hands. Business Email Compromise (or BEC) is a growing threat. And if you become a target, it could cost you – big time. So, what exactly is a 'BEC attack'? In simple terms, it’s where scammers pose as people high up in the business, like CEOs, executives, and IT staff. The goal is to trick your employees into sharing sensitive information or sending money. Research shows that nearly 90% of BEC attacks are set up this way. It’s easy to see how someone might quickly respond without a second thought, especially when they trust the sender. BEC attacks have spiked dramatically this year, especially over the third quarter. Researchers have analyzed 1.8 billion emails worldwide, discovering a shocking 208 million malicious emails among them. And of these malicious emails, more than half (58%) were BEC attempts. The figures make it clear: BEC scams are now the biggest email threat to businesses. Another thing worth noting? Most BEC scams target employees lower in the business, who might be less likely to question authority or be less aware of cyber threats. Although BEC attacks are common, it’s also important to remember that scammers still use other methods too. This includes commercial spam and phishing attacks, which are designed to trick people into sharing personal information, like login details. In fact, the combined effect of these types of scams now overshadows traditional ransomware and malware attacks. Luckily, it isn’t complicated or expensive to protect your business. Simply make sure that all members of your team are trained to think twice about every email they receive. If an email asks for sensitive information or a financial transaction – especially if it feels urgent – your employees should know to stop and check with someone before they action anything. If you need help making sure your business is secure, get in touch. Microsoft is warning business owners that trusted cloud storage services are being hijacked to trick you into handing over your data. Microsoft is warning business owners about a new type of phishing scam (where cyber criminals pose as a trusted source to trick you into giving away login info), which uses popular cloud services like SharePoint and OneDrive. Although these platforms are usually safe, scammers have figured out how to trick privacy settings to get past security checks.
The scammers hack your cloud storage by stealing your login details or buying them on the black market. Once they get inside, they upload a file that is designed to look authentic – like a fake Microsoft 365 login page. They set the file to “view-only” or limit access to specific people, such as you and your team. Opening these files or following any links inside the emails could cause serious damage to your business. Scammers can use your information to access your systems, or they can install malware (malicious software) that lets them cause disruption and steal information. Recovering from these kinds of attacks can be expensive and time-consuming – not to mention the damage it could do to your business’s reputation. Make sure your employees are aware of this new threat and know to be cautious when opening emails, even if they appear to come from a trusted company or individual. Before opening any shared files, double-check the sender’s identity. If something feels off, contact the sender directly to verify it. However, do not contact the sender by directly replying to the suspicious email. We strongly recommend calling the sender and speaking with them over the phone. Make sure you use multi-factor authentication (MFA) across all your team’s devices. This adds an extra layer of security by requiring a second piece of information (like a code sent to your phone) along with your password. Also, keep your security software up to date so that it’s always ready to block the latest types of attack. Would you like our help protecting your business with added security, training, and monitoring? Get in touch. The technical rules have recently changed. |
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