Hackers Target Small Business Via Email Scams!
Hackers Target Small Business Via Email Scams!
Hackers stole more than $1 billion from small-mid sized businesses through email schemes and corporate account takeover ploys between October 2013 and June of this year, The Wall Street Journal reports. And yes, it’s happening right here, locally.
How?
A hacker is able to breach a computer belonging to a small business and infect it with malware to steal passwords and gain access to the business email accounts, revealing vendor details, such as payroll processor, accountant, food supplier, etc. Next, the cybercriminals change the vendor payment instructions to steer the cash into their own account. They then shuffle it through a few different bank accounts, and now it's gone. Unfortunately, many small businesses/vendors do not have security measures in place to even recognize when their systems have been invaded.
According to the FBI, organized hacking syndicates are duping businesses, which think they are paying vendors, into transferring money to fraudulent accounts. Small businesses in the U.S. are usually the targets.
How Does Small Business Guard Against This?
- Deal only with vendors who have strict security guidelines in place for invoice payments, etc.
- Never pay invoices, bills, requests for funds, etc. unless you have verified all details with your vendor by reaching out to your personal contact directly, preferably verbally to confirm all.
- Make sure your vendors have security measures in place in the event of data breach and own up to the intrusion immediately.
- Protect your data via firewalls, frequent password changes, etc.
Mary Tapp works for Heartland Payment Systems and consults with business owners on how to protect their credit card and payroll data.
Mary Tapp
T: 302-864-5141
E: Mary.Tapp@e-hps.com
