As a small business owner, you work long and hard to make sure your business is successful. Small businesses are the most common victims of fraud at 31.8% according to the Association of Certified Fraud Examiners. That number is higher than any other business category. The truth is that small businesses are the most vulnerable because they often lack internal controls to curb the effect of scams on their bottom line. So, how can you protect your business from scammers? The first step is to identify the common red flags that accompany a scam and then educate your employees on how to spot them. Below we dive into one of the most common types – overpayment scams – and how to mitigate them.(more…)
In the digital age, bitcoin is a well-known term – but that doesn’t mean it’s well understood. What is cryptocurrency? According to Cointelegraph, “cryptocurrency is a digital or virtual currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency.” It is decentralized and relies on an open source verification system. In essence, it’s worth fluctuates and it is virtually untraceable. The most widely used and recognized cryptocurrency is bitcoin. So, what does this have to do with your business?(more…)
Under normal circumstances, hackers and scammers are annoying at the very least. With recent events revolving around coronavirus (COVID-19), scammers have upped their game, increased their efforts, and are making a challenging situation even more difficult.
Not only has the volume of scams gone up in recent days, the complexity and authenticity of those scams is making it very hard to separate the legitimate from the fake.(more…)
Analysis of 2018 Cyber Claims Data by Society Insurance
Ransomware. Business email compromise. Spear phishing. This is the new language of business risk. Whether it’s a massive data breach that exposes customer information, or an automated ransomware attack that extorts bitcoin payments from a small business owner, the cybercrime wave continues to swell as the cybercrime economy becomes more sophisticated.
The threat of cyber attacks continues to top the list of executive concerns around the globe. According to the latest survey by The Conference Board, US-based CEO’s rank cybersecurity as their number one concern.
And here’s why…(more…)
While email is a great tool both personally and professionally, it also poses one of the greatest threats to your business. Bad actors can use a variety of email scams such as ransomware, phishing, and a variety of other tools to not only disrupt personal computers, but also business technologies while gaining access to personal or business information that would be harmful for the outside world to have.(more…)
In the midst of a busy workday, you receive a phone call from an outside number. The caller identifies themselves as a member of tech support calling about your computer. They may request your password, ask you to download a file, or request remote connection to your system. These calls may be phishing attempts and should be considered dangerous – but they can be tricky to identify and it’s important to be prepared to respond appropriately.
Here are 7 helpful tips to deal with phishing: (more…)
Email is commonplace in the business world, with over 108 billion emails sent and received per day. The fact that emails are circulating in big numbers makes them a good target for scammers. We all need to be careful when opening emails.
Consider this scenario that was recently brought to my attention: (more…)