How many times a day do you respond to an email without really thinking about its contents?
Maybe it's a request for some information. Perhaps it’s asking you to pay an invoice. All mundane stuff. But no sooner than you’ve hit send, you've fallen victim to a Business Email Compromise (BEC) attack.
A BEC attack occurs when a cybercriminal gains access to your business email account and uses it to trick your employees, customers, or partners into sending them money or sensitive information. They do this by impersonating someone senior, and abusing their position of trust.
It might sound like something that only happens to big corporations, but that's not the case.
According to the FBI, small and medium-sized businesses are just as vulnerable to BEC attacks as larger ones. In fact, these attacks have cost businesses more than $26 billion over the past few years.
And Microsoft brings more bad news, with its recent findings showing that they’re getting both more destructive and harder to detect.
So, what can you do to protect your business from BEC attacks? Here’s our advice:
- Educate your employees: They are the first line of defense against BEC attacks. They need to know how to spot phishing emails, suspicious requests, and fake invoices. Train them regularly on cyber security best practice, like strong passwords, multi-factor authentication, and secure file sharing.
- Use advanced email security solutions: Basic email protections like antispam and antivirus software are no longer enough to block BEC attacks. You need more advanced solutions that use artificial intelligence and machine learning to detect and prevent these attacks in real-time. Look for email security providers that offer features like domain-based message authentication, reporting, and conformance (DMARC), sender policy framework (SPF), and DomainKeys Identified Mail (DKIM).
- Set up transaction verification procedures: Before transferring funds or sensitive information, establish a verification process that confirms the authenticity of the request. This could include a phone call, video conference, or face-to-face meeting. Don't rely on email alone to confirm these types of requests.
- Monitor your email traffic: Regularly monitor your email traffic for anomalies and unusual patterns. Look for signs like unknown senders, unusual login locations, changes to email settings or forwarding rules, and unexpected emails. Make sure you have a clear protocol in place for reporting and responding to any suspicious activity.
- Keep your software up to date: Ensure that you're always running the latest version of your operating system, email software, and other software applications. These updates often include vital security patches that address known vulnerabilities.
BEC attacks are becoming more common and more sophisticated, but with the right awareness, training, and security solutions, you can protect your business.
Don't wait until it's too late – take action today to keep your business safe.
If you want to know more about how to protect your business from cyber threats, our team is always ready to help you. Give us a call.
You don't want to miss this month's eGuide resource.
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Your essential cloud migration strategy checklist
If you’ve ever considered moving your business’s data and applications over to a cloud-based solution, you’d be forgiven for breaking out in a cold sweat and forgetting about the entire thing.
It’s complex. And there’s a lot that can go wrong from increased downtime to data loss or things not working as they should.
But when you get it right, there are countless benefits. For example big cost savings, increased security, and better scalability. Not to mention access to extra features that may be available.
Download our brand new guide to see how your business would benefit. It includes an essential cloud migration checklist.
You don't want to miss this month's eGuide resource.
Access this month's eGuide on our Resources page
5 steps to improve your ransomware resilience
Ransomware is the most terrifying data security threat your business has ever faced.
Imagine your team trying to log in one morning. But all of them get a bright red screen saying your data has been locked away, and you must pay a huge ransom in Bitcoin to get it back.
Terrifying.
Check out our new guide so we can answer all your questions about it. Plus, you’ll discover five steps to improve your business’s ransomware resilience.
Check out our latest BlueCastle IT Tech Tip Video.
It’s way too easy to be tricked by an online scam these days. What would happen if a member of your team realized they had accidentally clicked a bad link?
Our new video explores how the company culture you create affects your data security.
Check out our latest BlueCastle IT Tech Tip Video.
Of course you’ve heard of the cloud. And that lots of businesses are embracing it. But maybe you’ve never really understood exactly what it is, and what the benefits are. Reality is, you’re probably already using the cloud in parts of your business.
You don't want to miss this month's eGuide resource.
Access this month's eGuide on our Resources page
This is something none of us wants to experience. But it does happen.
There’s a small fire in your office. No-one is hurt and everyone is safe. But the damage to your workplace is unbelievable.
The flames. The heat. The smoke. And of course, the huge amounts of water used to put out the fire.
Here’s a good question – if there had been a fire in your office last night, what would you wish you’d got round to doing yesterday?
Think about all your computers and specifically the data on them. Is your data as protected and backed up as it could be?
Are you triple sure of that?
Read our brand new eGuide now. It’ll show you the things you need to make a priority to keep you protected from any disaster.