What are the cybersecurity threats small-business owners need to be aware of and how can they be addressed? This American Express business article, featuring John Wilson of HelpSystems, looks at the five most common cyber threats small-business owners need to know about and provides ways small businesses can improve their cyber defenses.
Originally published on American Express Business Trends & Insight.
Cybercriminals often perpetrate these schemes by stealing login credentials through social engineering and phishing. But they can also spoof email addresses, especially if the company doesn’t use email security protocols such as DMARC (domain-based message authentication reporting and conformance). Small and medium businesses are particularly susceptible to BEC scams because of cyber defense costs, according to the FBI.
Wilson says attackers may start a BEC scheme by impersonating an executive to contact an accounts receivables employee and request a list of customers who owe company money, including the amounts and dates due. “Now the attackers are armed with a list of dozens or hundreds of possible targets, and all they have to do is trick one into wiring money to a different bank account,” he says.
Read the full article here.