How many times a day do you quickly reply to an email without giving the contents any thought? You should think before you click on that email.
Maybe it’s someone requesting information. They might be asking you to make an invoice payment. But as soon as you respond, you’ve already fallen victim to a Business Email Compromise (BEC) attack.
A BEC attack is when a cybercriminal acquires access to your business email account and uses it to deceive your staff, clients, or business partners into sending them money or private information. They do this by impersonating a senior role and exploiting their position of trust.
Although this seems like something that only occurs in larger organizations, it’s simply not the case.
According to the FBI, small and medium-sized businesses are just as susceptible to BEC attacks as larger ones. In actuality, these attacks have cost businesses over $26 billion over the past few years.
And the latest research from Microsoft reveals that these attacks are becoming more harmful and more difficult to detect.
Here’s what we suggest you can do to defend your company against BEC attacks.
Inform Your Employees
Training your staff is important because they are the first line of defense against BEC attacks. They need to know how to recognize phishing emails, suspicious requests, and fake invoices. Regularly educate them on cybersecurity best practices including safe file sharing, strong passwords, and multi-factor authentication.
Use Sophisticated Email Security Solutions
Traditional anti-spam and antivirus software is no longer powerful enough to thwart BEC threats. To identify and stop these attacks in real time, you need more advanced solutions that make use of AI and machine learning. Domain Messaging Authentication, Reporting, and Conformance (DMARC) are features to look for in email security solutions.
Establish Transaction Verification Procedures
Before transferring money or sensitive data, make sure the request is real by putting in place a verification process. This can include a conversation over the phone, a video conference, or an in-person meeting. Don’t rely on email alone to confirm these requests.
Keep an Eye on Your Email Traffic
Regularly keep an eye out for abnormalities and odd patterns in your email flow. Take note of any indications, such as emails form unknown senders, login locations, changes to email settings or forwarding rules. Make sure your protocol for reporting and responding to suspicious activity are clear.
Update Hardware and Software
Make sure your operating system, email software, and other software programs are always running at the most recent version. These upgrades frequently include security patches that address vulnerabilities.
BEC attacks are getting more frequent and complex, but you can safeguard your company with the correct knowledge, tools, and security measures.
Don’t wait until it’s too late. Act now to keep your company safe.
Our team is available to help you at any time if you have questions regarding how to safeguard your company against online dangers. Call us today.
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STG IT Consulting Group proudly provides IT Services in Greater Los Angeles and the surrounding areas for all your IT needs.