Listen up, business owners: It’s time to start paying extra attention before wiring any money online.
Recently, the Wall Street Journal ran an important article highlighting the growing problem of business email fraud. Hackers are now using malware to break into corporate email systems and trick businesses into wiring large sums of money into fraudulent accounts.
Just how bad is the problem? According to the Federal Bureau of Investigation, since 2013, global businesses have lost over $1 billion from this type of nefarious online activity.
Here’s what you can do to protect your business from email fraud:
First and foremost, make sure that your employees know how to stay safe online. Malware can come from a variety of different sources (like fake advertisements and websites that appear to be safe). This is especially important if you have a bring your own device (BYOD) program in place. If employees are using work devices for personal use, it could increase the chances of contracting malware. Once malware infects a device, it could easily cascade across your network and infect your email system.
In addition to educating your employees about the dangers of malware, make sure that daily malware scans are standard practice in your company.
It also won’t hurt to pick up the phone and confirm that the receiving address is correct before wiring any large sums of money over the Internet. While it may be mildly inconvenient, it could prevent your business from falling victim to a scam.
Further, you should consider investing in a managed IT services provider to keep a watchful eye over your network. With the help of a managed IT services provider like Apex Technology Services of Norwalk, Connecticut, you can rest assured knowing your network is up to date with the latest hardware and software which can help mitigate the liklihood of getting hacked.
Click here to learn how Apex can help keep intruders out of your network.