With a multitude of ways in which a business can be hit by Cyber-Crime, where does Phishing sit on the list of most prevalent in Australia?
Recent statistics show, that for the past 5 years or more, it sits at the top of the list as number one.
In 2021, Australian businesses reported over 71,000 Phishing scams, and over $4 Million in financial loss. The scary statistic is, that according to the recent data released from Scamwatch (Australian Competition & Consumer Commissions) in the first 6 months of 2022, Australia had already lost over $9.5 Million to Phishing scams.
So, what exactly is a Phishing Scam?
Phishing is a type of social engineering attack that occurs when a fraudulent email is sent in attempt to collect your personal data such as credit card numbers, passwords, bank details etc.
Scammers will essentially create an email to target the recipient from data they have already collected, allowing them to think the email is legitimate and from a trusted source.
The content will include a malicious link or attachment which the recipient is encouraged to open. Of course, the recipient who falls victim to these scammers is not aware these attachments are malicious, and once opened they have allowed the malware or ransomware to infect their system, thus revealing their sensitive information.
Here at anspired, we have complied a list of ’6 Ways You Can Stop Phishing Attacks On Your Business’ and avoid being another ‘scam statistic’.
Think Before You Click
If you see an email in your Inbox and immediately think something about it does not look right, you have more than likely come across a scam email.
Carefully read over the information and check for bad grammar and spelling. When looking closely you may notice the email address has come from a public domain such as @gmail.com. It is highly unlikely, if not guaranteed that a legitimate organisation would use public domains such as these and instead have their own private business accounts.
Our best and most simple advice we can give you here is “don’t click!”
Dear Customer…
Does the email look as though it has come from a well-known source such as your bank but has a generic greeting like Dear Customer or Greetings friend.
This should be seen as your first clue that the person sending this email doesn’t know you, and probably best you don’t open the attachments or follow the suggested link. Instead, you could reach out to them directly and question if they have recently sent you an email. Alternatively, send it to your I.T Support to investigate further for you.
Keep Up To Date
Do not allow your system to fall behind on its scheduled updates.
One of the main reasons a security update is released is to keep your system protected from the most current forms of cyber-crime. Updates allow your system to patch up holes in your security before they become an issue. If you choose to ignore these updates, you will put your network at risk of potentially crippling attacks.
Multi-Factor Authentication
Set up MFA (multi-factor authentication) to add an extra layer of security to your network and make it harder for scammers to hack your accounts and collect your personal data.
MFA is an authentication method where two or more verification factors are required to provide access to your accounts.
For example, once you have entered your username and password, you will be prompted to enter an OTP (one time password) sent as a text to your phone. Alternatively, you could be asked to complete voice or face recognition, enter an OTP from a Smartphone App or even fingerprint scanning in some cases. Implementing MFA within your organisation with give you confidence that your business is better protected against pesky hackers.
Education Is Key
Human error is responsible for a large number of data breaches across Australian Businesses.
Without providing regular training and properly educating your employees on Cyber Security, a staff member could easily fall into the trap of a phishing scam and potentially compromise your entire network. To avoid this, anspired recommend regular training sessions that include online courses as well as the option of internal ‘Lunch & learns.’ To understand more on how these are run, speak with our anspired team.
Get Protected
When you outsource your IT to the professionals, your business network is protected and monitored around the clock. Your systems are kept up to date, and the likelihood of a cyber attack is slim to none.
If an employee is unsure about an email they have received, rather than waste their valuable time trying to discover if it is legitimate (or worse) they have 24/7 support they can contact for advice.
With a team of experts protecting your valuable data, you can rest easy knowing your business is secure and get back to focusing on your core business.
Discover more ways anspired can protect your business by phoning us today on 1300 050 080 or email us at sales@anspired.com.au