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February 16, 2020

E-Mail Scams $2.6M from Puerto Rico: How to Protect Yourself

From 2019–2023, approximately $5.2 trillion in global value will be at risk from cyberattacks, creating an ongoing challenge for corporations and investors alike.

Yet many organizations, government agencies and small businesses hope it won’t happen to them so they don’t take the threat seriously.

Cybersecurity professionals know the reality. Every organization will be hit – most, repeatedly.

60% of companies close down as a result of a cyberattack according to Cybersecurity Ventures – typically because organizations hope for the best and don’t bring in professionals to help them before the attack occurs.

Quite often, companies look for the cheapest solution to problems because profitability is job 1. But it is really tough to be profitable when there is a 100% chance you will eventually be attacked and then a 60% chance you have to close down afterwards.

Cybersecurity is not like hiring a company to vacuum the carpets yet to the small business owner and manager, that is how it’s often purchased.

Cybersecurity involves a great deal of technology, planning and business process but the most frequent way hackers get in is with email. They send a phishing or fraudulent message to get an unsuspecting user to click or enter their password, etc.

Manuel Laboy, executive director of Puerto Rico’s Industrial Development Company, said rigorous procedures were not followed when the agency received an email alleging a change in banking accounts that prompted someone to transfer more than $2.6 million to a fraudulent account in the U.S. mainland last month.

“We do not take this lightly, and there are consequences,” he said.

Obviously this is scary news but it happens daily and most of these scams go unreported.

There are free ways to improve your chances of being scammed, phished or becoming victim of some other cyber fraud. A service like PHISH360 is a great way to start.

It helps your organization by sending messages to workers which are what a scammer would send. If they click, it is tracked and management can take action – before they click on a real threat. If they enter information, they are immediately educated on what they did wrong, so it doesn’t happen again.

For quality, reliable IT service, cybersecurity and tech support in Manhattan, New York, Connecticut and beyond, contact 5-star and award-winning Apex Technology Services and keep your organization protected. Please contact us for more information and learn how we can help your organization stay secure.

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