Ransomware remains a serious threat to enterprises, small- to medium-sized businesses (SMBs), and individuals alike. Last month, Clop ransomware has evolved to integrate a method that targets Windows 10 apps and various applications. Additionally, the latest reports by the Federal Bureau of Investigation (FBI) show that another ransomware called Maze has been targeting U.S. companies to steal and encrypt data.
With a new decade on the horizon, many digital threats and cybersecurity gaps that have plagued the previous one will persist and worsen. Additionally, with artificial intelligence (AI) and machine learning being adopted across an ever-widening array of industries, hackers are also using them to enhance the sophistication of their attacks.
Data security continues to be a hot button issue today. However, not many businesses, especially small- to medium-sized businesses (SMBs), realize its importance. In fact, recent findings suggest that only 15% of companies are adequately prepared for a cyberattack.
According to the recently released Verizon 2019 DBIR report, Social Engineering and BEC Scams contributed to 370 incidents and 248 confirmed breaches. FBI’s Internet Crime Complaint Center (IC3) said that losses from business email compromise (BEC) scams reached $1.2 billion in 2018, almost double the adjusted losses of $675 million in 2017.
BEC or Business Email Compromise are scams where attackers send email messages impersonating an executive or an employee at an organization.
Business email compromise (BEC) scams have been growing in prevalence and creativity over the past couple of years. Today, it is recognized as a major financial cyberthreat, impacting businesses across the globe.
In January 2015, the Internet Crime Complaint Center (IC3) and the FBI released a public service announcement that warned of a sophisticated scam targeting businesses that work with foreign suppliers.
We all make mistakes. In fact, making mistakes is a core part of the human experience, as it’s how we grow and learn. When it comes to cybersecurity, however, human error is often overlooked.
Minimizing threats from within is more important than ever for every organization.
Yes, you read that right, do not trust the email from your boss. It could be an impersonator disguised as your boss trying to phish you. This phenomenon is called Business Email Compromise, or BEC Scam. It is a severe problem facing organizations of all sizes.
Email has become one of the most vital business communication tools. At the same time, with the evolution of cybercrime, it’s the same medium by which most security breaches occur. Sadly, most business owners remain complacent when it comes to securing their email applications.
Business owners consider various cyberthreats when it comes to security planning. One of the older but most effective weapons in a cybercriminal’s arsenal is phishing.
Phishing can be the first stage in a sophisticated information-stealing attack and remains pervasive for one simple reason: it works.
Despite the various methods to filter out unwanted email, spam still presents a number of challenges to organizations. While ordinary spam is simply considered a nuisance, the true danger lies in the spoofed emails or the malware that it delivers.
The effect of spam on your business
Like phishing emails, spam can also be designed to appear like they’re sent by legitimate sources like banks or online merchants.