Last year, the FBI received 791,790 complaints of internet crime.
This was up 300,000 from 2019 and the pandemic is to blame for that.
While we were trying to protect ourselves and our loved ones from Covid-19, cyber criminals were using the time to take advantage.
American business lost more than $4.2 billion to scammers during this time.
The FBI has identified 5 main types of scams that can affect organizations:
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Bogus Invoice Scheme - criminals pretend to be a supplier requesting funds to a fraudulent account
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CEO Fraud - scammers pose as the CEO and send an email to the finance department requesting a money transfer
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Account Compromise - your email account is hacked and used to request invoice payments to suppliers
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Attorney Impersonation - cyber criminals pretend to be the attorney and request funds or sensitive information
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Data Theft - HR or bookkeeping are usually targeted to obtain sensitive information to use in future attacks
The biggest source of loss? Business email compromise.
They recommend the best way to avoid this type of scam is to verify all requests for personal information or money transfer, either directly or over the phone.
Security awareness training can also be a big help in protecting your business from business email compromise or any other type of data breach.
Our advice is to schedule regular training for all of your people, from receptionists right up to the CEO.
You can even try attack simulations to help educate your team on how this kind of attack really occurs. Knowledge is power, after all.
The Databranch team has the ability to make your environment more secure and can help your organization prevent cyber-crime. Give us a call at 716-373-4467 x 15, email info@databranch.com, or click here to learn more about us and how we can help!
