September 2023

In this era of digital connectivity, email has become the linchpin of communication between businesses and their clients. It’s a versatile tool, but it’s also vulnerable to cyber threats. Among the myriad of threats, Business Email Compromise (BEC) stands out, causing significant financial losses and damaging reputations. As we navigate a landscape defined by rapid technological advancements and post-pandemic challenges, businesses strive to expand their digital presence while cybercriminals are devising new and more cunning scams. This article is your guide to understanding BEC fraud and fortifying your business against these cyberattacks. Let’s delve into this pressing matter. Table of Contents Demystifying Business Email Compromise Unpacking the Mechanics of BEC Attacks Real-Life Business Email Compromise Scenarios Who’s on the BEC Target List? Exploring Varieties of BEC Scams Distinguishing BEC Attacks from Phishing The Critical Importance of Preventing BEC Effective Strategies to Prevent Business Email Compromise Responding to a BEC Scam: What to Do The Statistical Reality of Business Email Compromise In Conclusion: Safeguarding Your Business Against BEC Threats 1. Demystifying Business Email Compromise Business Email Compromise, or BEC, is a sophisticated cyberattack where malicious actors impersonate key personnel within an organization to manipulate individuals into taking actions that ultimately benefit the attacker. BEC attacks predominantly occur through email communication and often result in substantial financial losses for businesses. 2. Unpacking the Mechanics of BEC Attacks BEC attacks commence with cybercriminals gathering critical information about the targeted organization. This can include employee names, job titles, and email addresses, collected through methods such as social engineering, public websites, or data breaches. The attacker then crafts deceptive emails by spoofing legitimate email accounts within the organization, often mimicking high-level executives or CEOs. These emails are meticulously designed to appear authentic, with slight variations or subtle misspellings in the email addresses to deceive recipients. To enhance the chances of success, attackers employ social engineering tactics, manipulating victims using trust, authority, or urgency. This may involve impersonating a CEO requesting an immediate wire transfer to a fraudulent bank account for a fictitious time-sensitive business transaction. 3. Real-Life Business Email Compromise Scenarios BEC attacks are relentless, targeting businesses of all sizes. Here are a few noteworthy real-life BEC examples that illustrate the breadth of this threat: The Facebook and Google Fiasco: Evaldas Rimasauskas and associates managed to deceive Google and Facebook employees into paying invoices for goods and services genuinely provided to a fraudulent account, resulting in over $100 million in losses. Toyota Joins the BEC Victim’s Club: In 2019, Toyota fell victim to a staggering $37 million BEC attack, highlighting the vulnerability even large companies face. 4. Who’s on the BEC Target List? BEC attacks primarily target individuals or organizations involved in financial transactions. The most frequently targeted individuals are accountants, financial officers, or payroll personnel. Attackers often impersonate CEOs, CFOs, or high-ranking executives to exploit their authority and influence. 5. Exploring Varieties of BEC Scams BEC scams encompass various tactics that attackers employ to deceive individuals and organizations. Common types of BEC scams include: CEO Fraud: Impersonating high-level executives to instruct employees to make urgent payments or transfer funds to specified accounts. False Invoice Scheme: Intercepting legitimate invoices and modifying bank account information to redirect payments to fraudulent accounts. Attorney Impersonation: Posing as lawyers or legal representatives, often involving confidential matters that require urgent attention. Employee Impersonation: Pretending to be employees within an organization to request sensitive information or initiate fraudulent actions. Account Compromise: Unauthorized access to an employee’s email account to monitor communications and redirect funds. 6. Distinguishing BEC Attacks from Phishing While both BEC attacks and phishing emails aim to deceive recipients, BEC attacks are notably more sophisticated. They are tailored to individual targets, often utilizing insider knowledge or personal information, making them challenging to detect. 7. The Critical Importance of Preventing BEC Preventing BEC attacks is paramount because of their potential for substantial financial losses, reputation damage, legal consequences, and compromised customer trust. 8. Effective Strategies to Prevent Business Email Compromise To protect your business from BEC attacks, consider these strategies: Educate Your Workforce: Train your employees to recognize BEC scams and raise their cybersecurity awareness. Use Strong Passwords and Enable 2FA: Enforce strong password policies and enable two-factor authentication. Implement Technical Safeguards: Utilize secure email gateways (SEGs) and email authentication methods like SPF, DKIM, and DMARC. Encrypt Emails and Documents: Employ S/MIME certificates for end-to-end encryption and authentication. 9. Responding to a BEC Scam: What to Do If you suspect a BEC scam, follow these steps: Follow your company’s BEC security protocols. Notify your IT department immediately. Contact your bank to suspend transactions. Review your accounts for suspicious activity. Report the incident to relevant authorities, such as the FBI. 10. The Statistical Reality of Business Email Compromise Here are some startling BEC statistics: In 2022, the FBI received 21,832 BEC-related complaints, resulting in losses exceeding $2.7 billion. Global losses from BEC fraud saw a 65% increase compared to the previous period. 65% of organizations faced BEC attacks in 2020. One in five employees falls for phishing scams and responds to suspicious emails. Learn more: https://www.microsoft.com/en-us/security/blog/2023/05/19/cyber-signals-shifting-tactics-fuel-surge-in-business-email-compromise/ 11. In Conclusion: Safeguarding Your Business Against BEC Threats Business Email Compromise remains a persistent threat in our digital world. By staying vigilant, educating your team, and implementing robust security measures, you can shield your organization from the financial and reputational damage that BEC attacks can inflict. Remember, cyber threats evolve, but so do your defenses. Protect your business and its future by countering BEC attacks with knowledge and action.

Introduction: Email has long been a cornerstone of modern communication and document sharing. Yet, despite its ubiquity, it remains a prime target for cyber threats. The need for secure document transmission via email has never been more crucial. Whether you’re a business professional transmitting confidential reports or an individual sharing sensitive information, safeguarding your data during email exchanges is paramount in an era rife with digital risks. In this article, we’ll explore the best practices for sending documents securely via email, ensuring your information reaches its intended recipients without compromise. Let’s dive in! 4 Best Ways to Securely Send Documents via Email To achieve robust and reliable document transfers, it’s imperative to employ proactive security measures that deter cyber threats. Here are four tried-and-true methods to securely send documents via email. 1. Protect Documents and Files With Strong Passwords Strengthening Document Security with Robust Passwords A strong password is your first line of defense. To create one, follow these steps: For Microsoft Office Documents: Open your file. Navigate to File > Info > Protect Document (or Protect Workbook in Excel and Protect Presentation in PowerPoint). Choose Encrypt with Password. Enter your password. Confirm your password. Save the file. For Adobe Acrobat PDF Documents: Note: Editing PDFs requires the paid version. Open your PDF. Select File. opt for Protect Using Password. Indicate whether recipients need a password for viewing or editing. Enter and confirm your password. Click Apply to save. Encrypting Files on Mac: Mac users can effortlessly employ the default Preview application: Open your PDF using Preview. Go to File > Export. Name the file. Choose Encrypt. Specify your password and confirm. Click Save. 2. Leverage End-to-End Email Encryption Enhancing Email Security with End-to-End Encryption End-to-end email encryption offers a safer way to protect your email content and attachments. It encrypts the email before sending it and decrypts it upon receipt. Here are two prominent end-to-end encryption protocols: S/MIME (Secure/Multipurpose Internet Mail Extensions) S/MIME relies on a centralized authority and enhances email security through encryption and digital signatures. It safeguards email contents against man-in-the-middle attacks and verifies the sender’s identity. S/MIME is widely supported by modern email clients. Securing Documents and Emails with S/MIME: Securing emails with S/MIME is straightforward. You’ll need an Email certificate from a trusted Certificate Authority. These certificates use PKI (public key infrastructure) for encryption and decryption. S/MIME on Gmail: Please note that the S/MIME feature is available to Gmail Enterprise, Education Fundamentals, Standard, Teaching and Learning Upgrade, and Plus users. Enable hosted S/MIME for message encryption. Compose your email. Click the lock icon next to recipient-related options. Choose View Details to adjust the S/MIME setting or select your preferred encryption level: Green: Requires decryption via a private key before reading. Grey: Secured with TLS (Transport Layer Security) for both sender and recipient. Red: Sent in plain text without encryption. S/MIME on iOS: Implement S/MIME encryption on iOS with these steps: Navigate to Advanced Settings and enable S/MIME. Set Encrypt by Default to yes. Compose your email. Click the lock icon near the recipient. Attach your documents. Send your securely encrypted email. PGP/MIME (Pretty Good Privacy/Multipurpose Internet Mail Extensions) PGP/MIME is decentralized and employs a hybrid cryptosystem for email encryption and signing. It allows users to create their own key codes and is supported by Yahoo, AOL, and Android. PGP/MIME requires a third-party tool for use. Securing Documents and Emails with PGP/MIME: Android users can utilize third-party applications for PGP/MIME email encryption. OpenKeychain is a popular choice. Download the app from your store and follow setup instructions for document and email encryption. 3. Employ Encrypted Email Services opt for Encrypted Email Services If you seek a more convenient way to encrypt emails, consider using email service providers offering end-to-end encryption. Three reliable options are StartMail, Tutanota, and ProtonMail. StartMail: StartMail prioritizes user privacy and deploys advanced encryption algorithms and security measures. It automatically encrypts all your emails on your device, ensuring that only the intended recipient can decrypt them. StartMail even offers “One-Time Passwords” for added security, requiring a unique password for each login session. Tutanota: Known for its user-friendly interface and robust security features, Tutanota encrypts messages locally on your device before transmission. Decryption occurs on the recipient’s device, preventing even Tutanota’ s servers from accessing email content. Tutanota offers a “password reset code” during registration for additional account security. ProtonMail: ProtonMail ranks among the most secure and privacy-focused encrypted email services. It implements end-to-end encryption with zero-access encryption standards. ProtonMail employs OpenPGP encryption and supports two-factor authentication. A unique ProtonMail feature allows sending encrypted messages to non-ProtonMail users through a password-protected link, ensuring secure communication with anyone. 4. Securely Transmit Files via File-Sharing Services Streamlining Security with File-Sharing Services Numerous file-sharing services simplify secure file uploads to third-party cloud servers, making them ideal for transmitting large files like videos and high-resolution photos. Apps such as OneDrive, iCloud, Send Anywhere, and Dropbox handle all security concerns. You only need to configure file permission levels and send the link to your intended recipient. Conclusion: We’ve explored four effective methods for securely sending documents via email. Password-protected documents and secure file-sharing services suit personal exchanges, while S/MIME certificates excel in business communication. With S/MIME, you encrypt and digitally sign your emails and documents, ensuring foolproof transmission.

In today’s digital landscape, online businesses face a dual challenge: ensuring seamless and secure payment processing for their customers while safeguarding sensitive data from cyber threats. As the e-commerce realm continues to evolve, fraudsters are becoming more sophisticated, underscoring the need for businesses to stay ahead of the curve. In this article, we’ll share eleven best practices to fortify online payment processing, fortify your customers’ data, and enhance your business’s security posture. 1. Encrypt Customer Payment Data The bedrock of online security lies in the encryption of customer payment data. Central to this process is the Secure Sockets Layer (SSL) certificate, which employs the Transport Layer Security (TLS) protocol to encrypt data during transit between users’ browsers and web servers. For e-commerce websites, SSL encryption is not just a best practice; it’s often mandatory for compliance with the Payment Card Industry Data Security Standard (PCI DSS). For most e-commerce sites, the optimal SSL choice is a Business Validation (BV) SSL certificate. BV SSL certificates undergo rigorous validation, affirming your organization’s legitimacy. While this may entail some paperwork, securing a Legal Entity Identifier (LEI) code can expedite the validation process. 2. Collect and Store as Little Data as Possible In the era of escalating data breaches, it’s prudent to minimize the collection and storage of customer data. Recent regulations, such as the General Data Protection Regulation (GDPR), impose stringent guidelines on data collection, storage, and access. Therefore, refrain from gathering excessive personal data. Only procure essential information like the customer’s name, address, or credit card details, and store it securely on encrypted cloud systems. 3. Become PCI Compliant Payment Card Industry Data Security Standard (PCI DSS) compliance is a pivotal facet of online payment processing. It encompasses credit card data protection, secure data storage, and annual validation. If you utilize a third-party payment processor, some PCI compliance responsibilities may fall under their purview. However, comprehending your obligations is crucial. The 12 PCI compliance requirements include maintaining a firewall, protecting stored data, changing default passwords, utilizing SSL encryption, restricting access to cardholder data, monitoring network access, and more. Adhering to these standards is imperative for securing online payments and preserving your customers’ trust. 4. Implement 3D Secure 3D Secure, or 3 Domain Server, is a security protocol involving three key entities: The merchant, The acquiring bank, and The card issuer (typically VISA or MasterCard). This authentication method serves to prevent unauthorized card usage and shields merchants from chargebacks stemming from fraudulent transactions. 3D Secure is a potent tool for elevating payment security and curtailing fraud risks. 5. Require Strong Passwords Robust passwords constitute a fundamental defense against cyberattacks. Compromised credentials constitute a significant portion of data breaches, underscoring the importance of password strength. Encourage your customers to craft formidable passwords that encompass a mix of uppercase and lowercase letters, numbers, and symbols. Discourage the use of easily guessable information and suggest the use of password generators provided by reputable password managers. 6. Use Strong Customer Authentication (SCA) Strong Customer Authentication (SCA) adds an additional layer of security when users access your system. It serves as a bulwark against unauthorized access, particularly thwarting automated bot attacks. SCA mandates users to provide at least two identity factors from three available choices: a PIN, a face/fingerprint scan, or a mobile phone. Additionally, consider leveraging the Card Verification Value (CVV) to validate online transactions, a 3-4 digit code found on credit cards. 7. Use Secure Online Payment Methods and Providers Opting for third-party payment processors or comprehensive e-commerce platforms like Shopify or Stripe can streamline your business operations while enhancing security. These platforms typically manage data storage and security, ensuring PCI compliance as a default standard. By harnessing their advanced security infrastructure, you can concentrate on business expansion while minimizing liability and fraud risks. 8. Use Address Verification Service (AVS) Address Verification Service (AVS) is a valuable tool for augmenting payment security. AVS cross-references the cardholder’s billing address with the address on record at the card issuer during a transaction. This process aids in detecting potentially fraudulent activities, such as transactions originating from a different country than the billing address on record. Merchants can configure their payment systems to flag or review transactions based on AVS responses. 9. Monitor Fraud 24/7 Proactive monitoring is vital for shielding your online payment processing. Deploy antivirus software across all devices connected to your payment terminals, maintain regular software updates, and apply the latest security patches. Conduct vulnerability assessments, ideally through a PCI Approved Scanning Vendor (ASV), to identify and address potential vulnerabilities. Additionally, capitalize on artificial intelligence (AI) and machine learning to scrutinize suspicious activities and reinforce your security measures. 10. Train Employees Cultivating a culture of cybersecurity within your organization is paramount. Train your staff in security protocols and equip them with the knowledge to respond effectively in the event of a data breach. Consistent cybersecurity training, ideally conducted every four to six months, reinforces the significance of vigilant practices among your employees. 11. Regularly Update and Patch Systems Frequent software updates and system patching are essential for maintaining a secure online payment processing environment. Cybercriminals often exploit vulnerabilities in outdated software to gain unauthorized access or launch attacks. To avoid falling victim to security breaches resulting from unpatched systems, establish regular patch cycles, employ automated patch management tools, and execute vulnerability assessments. Conclusion: As e-commerce continues its ascent, securing online payment processing remains paramount. Your role as a business owner encompasses protecting your customers’ sensitive data and instilling a culture of cybersecurity within your organization. By implementing these eleven best practices, you can ensure online payment security, mitigate financial and reputational risks, and empower your customers with the confidence to engage in secure digital transactions.

Scamming people is nothing new. Impostors like Victor Lustig and Frank Abagnale have long exploited trust and played mind games with their victims. From selling the Eiffel Tower twice to impersonating a pilot, their cons were legendary. In today’s digital age, scammers find fertile ground on the Internet. A striking example is Evaldas Rimasauskas, a Lithuanian man who deceived Google and Facebook into sending him over $100 million. Posing as Quanta Computer, a Taiwanese electronics manufacturer, Rimasauskas compromised the security of these tech giants, revealing the dangerous threat of phishing. Phishing is one of the oldest tricks in online scammers’ books. Why spend countless hours on breaking highly secure systems, when a well-crafted email can persuade the target to voluntarily handle everything you request? This article covers phishing in great detail and provides tips on how to prevent a phishing attack. What Is Phishing? Phishing is a cyber-attack where scammers attempt to deceive individuals into providing sensitive information such as passwords, credit card numbers, or social security numbers, by masquerading as trustworthy entities. The ultimate goal is to gain unauthorized access to personal or financial data and use it for malicious purposes, such as identity theft or financial fraud. The term “phishing” is derived from the word “fishing.” It was coined as a play on words because phishing attacks share similarities with the act of fishing. Just as traditional fishing uses bait to hook fish, phishing attacks employ fraudulent communications to lure unsuspecting individuals into revealing their sensitive information. The term was first used in the mid-nineties by hackers and researchers on early online platforms, such as AOL. However, it gained wider recognition and usage in the early noughties as phishing attacks became more prevalent and a serious cybersecurity threat. How Does Phishing Work? Phishing works by using various tactics to appear trustworthy and legitimate. Scammers often send fraudulent emails, and text messages or even make phone calls pretending to be someone else, like a bank representative, a social media platform, or an online retailer. They use clever techniques to manipulate people into taking actions, like clicking on a malicious link or downloading infected attachments. Phishing Attempt Example Let’s take a closer look at how phishing works with a concrete example: Imagine you receive an email that appears to be from your bank. The email might use the bank’s logo and official colors and even mimic the format. The subject line could be urgent, suggesting a problem with your account or the detection of a suspicious transaction. Within the email, there will usually be a call to action that urges you to resolve the issue. For instance, it might ask you to click a link to verify your account details or identity. However, the link provided will not lead you to the actual bank’s page but to a cleverly designed malicious website that closely resembles the bank’s legitimate site. Once you click on the link and arrive at the fake website, you will see a login page that looks identical to the bank’s genuine login page. If you enter your username and password on this page, the scammers will capture that information. In some cases, after entering your credentials, you may be redirected to the bank’s website to create the illusion that nothing suspicious has occurred. By doing this, the scammers try to avoid raising any immediate red flags. With the login information obtained, the attackers can access your bank account, make unauthorized transactions, or even sell your credentials on the dark web to other criminals. What Types of Phishing Scams Exist? Phishing scams are diverse and evolving. Attackers search for new ways to run their mischievous schemes, but the underlying strategy is constant. Here are some common phishing scams you should know: Email Phishing Email is the classic form of phishing. Scammers send emails that appear to come from a legitimate source, such as a bank or an online service provider. The emails usually contain a sense of urgency, asking recipients to update their account information or verify their credentials by clicking on a link that leads to a fake website. For example, you might receive an email claiming to be from a service provider, asking you to click on a link and enter your login credentials to resolve an issue with your account. Business Email Compromise (BEC) BEC attacks target businesses and involve impersonating high-ranking executives or trusted vendors to deceive employees into performing unauthorized actions. Scammers typically send emails that appear to come from a CEO, CFO, or a known vendor, instructing employees to initiate wire transfers, disclose sensitive data, or make changes to payment details. These attacks exploit the trust and authority associated with executives or vendors, making it more likely for employees to comply with fraudulent requests. Spear Phishing Spear phishing targets specific individuals or organizations by tailoring the attack to their personal or professional interests. Fraudsters gather information about their targets through social media or other sources to create personalized and convincing messages. For instance, a scammer might email an employee of a company, posing as a senior executive and requesting sensitive company information. Smishing and Vishing Smishing refers to phishing attacks conducted through text messages, while vishing refers to voice phishing over phone calls. Scammers send text messages or make phone calls impersonating trusted entities, like banks, tech support, or government agencies, and try to trick individuals into sharing their personal information or making financial transactions over the phone. Pharming In pharming attacks, attackers manipulate the domain name system (DNS) to redirect users to fraudulent phishing sites without their knowledge. Unlike traditional phishing attacks that rely on tricking individuals through deceptive emails or links, pharming attacks tamper with the fundamental infrastructure of the internet. Scammers compromise the DNS settings by exploiting vulnerabilities in DNS servers or infecting users’ computers with malware. This way, they redirect the traffic intended for legitimate websites to fake websites that closely resemble legitimate ones. When users type in the correct website address or click on a bookmarked

In today’s digital age, website security is more crucial than ever. A breach can lead to data loss, damage to your reputation, and financial turmoil. Thankfully, there are effective countermeasures to protect your website from hackers and ensure its integrity. In this article, we’ll explore 12 essential tips to secure your website from cyber threats and explain why it’s critical to prioritize website security. 12 Tips to Secure Your Website From Hackers 1. Always Update Your Software Outdated software is a hacker’s playground. Regularly update your operating system, plugins, and content management system (CMS) to patch known vulnerabilities. Failing to do so exposes your website to attacks. Keep in mind that outdated CMS software was responsible for nearly 39% of website compromises in a study. 2. Back-up Regularly Prepare for the worst by regularly backing up your website’s data. Whether you choose automatic or manual backups, ensure that you have copies stored in multiple locations, such as local storage and secure cloud platforms. This strategy will help you recover your site in case of a breach. 3. Get Rid of Your “Admin” Username Change your default “admin” username and the standard site access link to unique, hard-to-guess alternatives. This simple step reduces the risk of brute-force attacks and unauthorized access attempts. 4. Monitor SQL Injections and Cross-Site Scripting (XSS) Implement measures like parameterized queries and input validation to protect against SQL injections and XSS attacks. This ensures that user-supplied data is treated as data, not executable code, reducing the risk of database compromises. 5. Take Care of How Much Information You Show Through Your Error Messages Error messages should provide minimal information to hackers. Avoid disclosing sensitive system information or file paths, as these can be exploited. Use generic error messages to limit the information exposed. 6. Use Strong Passwords and Double Authentication Encourage strong, complex passwords and consider implementing two-factor authentication (2FA). Strong passwords, combined with 2FA, make it significantly harder for hackers to gain access to your website. 7. Always Treat Uploaded Files With Suspicion User-uploaded files can harbor malware and backdoor scripts. Limit file uploads to trusted users and implement strict controls, including file type and size restrictions, file scanning, and input sanitization. 8. Install SSL and Secure Your Connection Enable HTTPS with an SSL certificate to encrypt data transmission between your website and visitors. This extra layer of security prevents unauthorized access and tampering of sensitive information. 9. Use a Web Application Firewall A web application firewall (WAF) filters and blocks malicious traffic, protecting your website from threats like DDoS attacks. Consider integrating a WAF service to enhance your website’s security. 10. Remove the Auto-Fill Option for Forms Disabling auto-fill features for forms prevents hackers from exploiting stored user data on compromised devices or browsers. This protects sensitive information from being harvested without user consent. 11. Implement a Honeypot A honeypot diverts hacker attention by creating a decoy area on your website. While it won’t guarantee complete protection, it can provide valuable insights into hacker tactics, helping you bolster your security measures. 12. Use Content Security Policy Content Security Policy (CSP) allows you to specify trusted sources for loading content on your website, blocking potentially malicious content. While complex sites benefit most from CSP, it’s a valuable addition to your security arsenal. Why Is It Important to Prevent Website Hacking? Website security is crucial because a breach can result in data breaches, financial loss, reputation damage, and legal consequences. Businesses must prioritize data protection to maintain customer trust and comply with cybersecurity laws like GDPR and HIPAA. Why Do Hackers Attack Websites? Hackers target websites for various reasons, including financial gain, data theft, hacktivism, and exploitation. Understanding their motivations can help you better defend your website against cyber threats. What Methods Do Hackers Use to Hack Websites? Hackers employ diverse techniques, such as DDoS attacks, brute-force attacks, phishing, and zero-day exploits, to compromise websites. Staying informed about these methods is essential for effective website protection. In conclusion, website security should be a top priority for businesses and individuals. By implementing these 12 tips and understanding the importance of safeguarding your website, you can reduce the risk of falling victim to hackers. Remember, prevention is the best defense against cyber threats, and a proactive approach can save you from the headaches that come with a security breach. Stay vigilant, keep your website updated, and protect your online presence.