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Gone are the days where companies only had to worry about physical theft. Technology has opened the doors to a whole new world of cyber theft. Hackers and internet thieves are waiting for the chance to pounce on vulnerable businesses. Here’s how you can protect yourself:


Protect Your Business From These 3 Types of Cyber Theft

Here are three types of crimes cyberthieves commit and what you can do to protect your business from becoming a target:

Email Phishing: An Easy Trick

One of the more common cybercrimes is email phishing, which is because it’s so easy to do. Phishing emails are sent by hackers and though they are made to look legitimate, they really are a scheme to make you click on a malicious link or trick you into giving away personal information like credit card numbers.

Businesses are a big target for phishing scammers because of the high volume of emails and inquiries businesses receive. A hotel sales department, for example, receives up to 100 emails a day inquiring about booking business with the hotel. Since scammers know hotels have a lot of valuable information and assets, they are the perfect target for a phishing scam. One wrong click could compromise the hotel’s entire system, from financial fraud to identity theft.

To avoid becoming a victim of these types of phishing scams, it’s important for employees to have their inbox settings properly configured to filter out any junk mail or suspicious email addresses. In addition, employees should never click on unfamiliar links or provide any personal or company information via email or on websites.

Beware of Social Engineering

Another way businesses can avoid cybercrime is to be wary of “social engineers.” Social engineering is a technique hackers use to psychologically manipulate people into giving out private information electronically. Hackers pretend to be a trusted source like a friend or familiar institution, usually over the phone or via email.

For example, a hacker could send an email posing as a credible business asking your business to call and donate to their charitable fundraiser or other cause. Assuming the email is coming from a legitimate source, your company decides to go ahead and donate money to support the cause. However, this is all orchestrated by a professional scammer who is just looking to commit fraud by stealing money and personal information from your business.

Not only can funds be stolen but your employees’ personal information like Social Security numbers can be compromised. To protect your business and your employees, it’s important to take preventative measures like providing your entire organization with identity theft protection. This way, in case one of your employees is a victim of an elaborate social engineering scam, they will be protected and get immediate assistance to repair any damage.

Ransomware is on the Rise

Ransomware is one of the most complicated but lucrative crimes a cyberthief can commit. In this scheme, a hacker infiltrates a business’s network with some type of malware (i.e. from an email link or downloaded application) that locks or shuts down the entire system. After the company is locked out of its own network, hackers will demand a ransom to unlock it. Many companies comply with these criminals since the inability to access their network for even a short amount of time can be detrimental to their business. In fact, it’s estimated that approximately a $1 million loss can occur as the result of a ransomware attack on a company. To avoid this kind of loss, it’s crucial that employees are properly trained in all business software systems and have anti-malware installed on their personal and work computers.

Vigilance is Key

As a business owner, keeping your employees and your company safe is your number one priority. With these three tips, you can protect your company from being a target for cybercrimes and security hackers.
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This article is published by Will Sherwood | The Sherwood Group |Website Design | Graphic Design | Marketing Communications: The Sherwood Group has over 30 years of experience working with all sorts of companies, small and large. Our clients range from entrepreneurs to Fortune 500 firms, in nearly every business sector, from across the street to around the world (and yes, even Europe, China, and South America). Our goal is to create advertising,  graphic design, website design, and marketing communication that still looks fresh and relevant 10-15 years later. Our mission is to stir your imagination and leave your competition shaken and wondering,  Now what do we do?”  We are located in Myrtle Beach, South Carolina.
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