Phishing: It Can Cost You Big

Author: Neal Shelton, Techie at Claris Networks

Cybercriminals are constantly trying to steal your hard earned money. While not the only motivator, money plays a huge role in cybercrime. Cybercriminals work in new and constantly evolving ways. Did you know that hackers orchestrated the Target security breach last year by entering through the thermostat? You read that right. If a cybercriminal made it to Target through the HVAC, how might your business be vulnerable?

Phishing - A Real-World Example

Here’s a real-life example. A cybercriminal likes to check websites of small and medium-sized healthcare providers as potential targets. Using your website as a template, and grabbing some of your supplier information from your website, they create a very official looking email requesting an update to the direct deposit account you use to pay for some of your medical supplies. You make the change and go about your day.

One month later, your company gets a phone call from the supplier.  They are holding this month’s medical supply shipment until you can pay the late payment. The money is already gone, and the cybercriminal has made off with $500, $5,000, even $50,000 of your company’s hard-earned cash. Here’s

According to the FBI, the average loss for this type of crime is $55,000. Losses as big as $800,000 have been reported. These attacks are often targeted at large companies, but many small businesses have been targeted as well. Boston University had 10 employees’ direct deposit accounts changed in a similar phishing scheme.

Phishing is not the only way cybercriminals can make money. Selling sensitive information, requiring ransom for your files with Cryptolocker, and even identity theft is profitable to the cyber crook.

How can you protect yourself? It’s actually quite simple.

• Don’t open email from people you don’t know.
• If it seems suspicious, verify.
• If it doesn’t seem suspicious, but involves money, verify.
• Reach out to IT support with any concerns.

As long as there are ways to make money with malware and trickery online, there will be new and more sophisticated threats. Stay up to date with the Claris Cloud9 Blog and the FBI’s Cyber Crime website.

Have security concerns for your own business? Click here to reach out to us.

About the Author

Neal Shelton is one of the Claris super-geeks with a passion for writing, tinkering, and fixing things. Neal’s based out of Chattanooga, where he lives with his wife and 3 young daughters. He was also Blackhawk Crewchief in the Army, doing tours in both Korea and Afghanistan. If you’re interested, this is his helicopter landing in Afghanistan.

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