As we become more reliant on the Internet in our everyday lives and for business, the importance of maintaining a safe with a reliable connection increases by the day. Unfortunately, as internet usage increases, so does cybercrime. Unsavory organizations and individuals have increasingly sophisticated ways of hacking into systems and stealing information.
While the most newsworthy instances of cybercrime involve huge multinational corporations, smaller businesses are hugely at risk too – in fact, possibly even more so as smaller businesses tend to have less money to spend on security, and less staff to dedicate to preventing cybercrime.
Here’s why you need to think about investing in cybersecurity.
The cost
The costs associated with cybercrime are also rising; it’s estimated that it costs companies hundreds of billions of dollars a year. To try and protect themselves, companies are spending huge amounts on increased security measures.
Cybercrime doesn’t just affect a company; it affects that company’s customers, too, as their data is at risk of theft. This can open your customers up to being victims of further crime such as identity theft, and – even in the best-case scenario – can destroy trust between the customer and you. It can be hard to get this back, so preventing cybercrime is key to maintaining a strong relationship with your customer. This will also cost you money, and potentially stop you from growing the business. After all, what investor will want to invest in a company that keeps losing its information to criminals?
Hacks are getting sophisticated
Almost every company has not only a website, but also several other potential areas that can be exploited by hackers. Hackers can make huge amounts of money for successfully cracking a system, and their methods of doing so are increasingly sophisticated, well-coordinated and well-funded. It’s now safer for companies to assume their security will be breached at some point, and make sure they have safeguards in place to prevent potential breaches resulting in theft or damage to their business. Always plan for the worst, and you’re less likely to see it happen.
Tools are widely available
While increasingly skilled hackers are a huge threat, the wide availability of ‘amateur’ hacking tools means that your business is also at risk from opportunists with less hacking skills just looking to see what they can do. Cybercrime is now a business in itself, and wannabe hackers can simply order what they need online.
Stricter regulations
It’s not just the increasing sophistication of hacks that means companies need to be more vigilant than ever; governments are also introducing legislation that means companies need to protect their customers’ data or risk heavy fines. This makes spending money on cybersecurity a solid, worthwhile investment as fines can be crippling and could even mean the end of your business.
The ‘Internet of Things’
The ‘Internet of Things’ is a term used to describe the increasing number of devices – phones, tablets etc – that are connected to the Internet. While having a ton of connected devices in your home or office can be hugely convenient, they do increase the risk of a security breach. In theory, each device is an entry point for a potential hacker.
Protecting your company against cybercrime
Knowing how to protect your business and your customers against cybercrime is essential in today’s world. Here’s how to do it.
- Build it in from the ground up. You need to make sure that your employees understand the importance of cybersecurity, and make sure they know that even small, innocuous actions can result in a security breach. Even an email can contain malware, so educating your employees on what to look for and what not to do can save a lot of time and money. Hackers also know which employees to target, so make sure that everyone in your organization is equally well-informed when it comes to cybersecurity. You should also hold regular training sessions to stay up to date, as methods are changing by the day.
- Assess, assess, assess – once you have your preferred cybersecurity system in place, don’t just expect that it will always do the job. Companies face continuous and ever-changing threats from cybercriminals and being complacent is a sure-fire way to get caught out. Every time you update your network, install software or replace a piece of network equipment you should reassess your risk of a security issue and act accordingly. If you’re unfortunate enough to be the victim of an attack, you should evaluate why it happened to prevent a repeat occurrence.
- Know your weaknesses (and your strengths) no matter what size or shape your business, or what you do, there is likely to be something in your data that a hacker will find valuable. Knowing what that is can help you in the fight against cybercrime – as will knowing who has access to it. You should also make sure you understand what will happen if the data were to be stolen, and make sure anything sensitive is properly secured.
- Bring in your vendors – make sure you know the security policy and practice of every vendor or third-party organization that has access to your data, and make sure they’re on board to help protect sensitive data.
- Implement the right controls – there are three primary types of controls that deter hackers; preventive, which act as deterrents, detective, which monitor and alert, and corrective, which prevent incidents from going too far. Make sure you have all three types implemented on your network.
Learning about cybersecurity
As cybersecurity becomes ever more important, access to learning about it is also becoming more accessible, and jobs in the industry are growing too. If you want to learn more about how to protect a network from attack, whether for your own business or because you’re looking to work in the field, you can now earn entire degrees in the subject from the safety and comfort of your own home. Check out Cyber Degree Hub for information, advice and courses.
Online Threat Alerts Security Tips
Pay the safest way
Credit cards are the safest way to pay for online purchases because you can dispute the charges if you never get the goods or services or if the offer was misrepresented. Federal law limits your liability to $50 if someone makes unauthorized charges to your account, and most credit card issuers will remove them completely if you report the problem promptly.
Guard your personal information
In any transaction you conduct, make sure to check with your state or local consumer protection agency and the Better Business Bureau (BBB) to see if the seller, charity, company, or organization is credible. Be especially wary if the entity is unfamiliar to you. Always call the number found on a website’s contact information to make sure the number legitimately belongs to the entity you are dealing with.
Be careful of the information you share
Never give out your codes, passwords or personal information, unless you are sure of who you're dealing with
Know who you’re dealing with
Crooks pretending to be from companies you do business with may call or send an email, claiming they need to verify your personal information. Don’t provide your credit card or bank account number unless you are actually paying for something and know who you are sending payment to. Your social security number should not be necessary unless you are applying for credit. Be especially suspicious if someone claiming to be from a company with whom you have an account asks for information that the business already has.
Check your accounts
Regularly check your account transactions and report any suspicious or unauthorised transactions.
Don’t believe promises of easy money
If someone claims that you can earn money with little or no work, get a loan or credit card even if you have bad credit, or make money on an investment with little or no risk, it’s probably a scam. Oftentimes, offers that seem too good to be true, actually are too good to be true.
Do not open email from people you don’t know
If you are unsure whether an email you received is legitimate, try contacting the sender directly via other means. Do not click on any links in an email unless you are sure it is safe.
Think before you click
If an email or text message looks suspicious, don’t open any attachments or click on the links.
Verify urgent requests or unsolicited emails, messages or phone calls before you respond
If you receive a message or a phone call asking for immediate action and don't know the sender, it could be a phishing message.
Be careful with links and new website addresses
Malicious website addresses may appear almost identical to legitimate sites. Scammers often use a slight variation in spelling or logo to lure you. Malicious links can also come from friends whose email has unknowingly been compromised, so be careful.
Secure your personal information
Before providing any personal information, such as your date of birth, Social Security number, account numbers, and passwords, be sure the website is secure.
Stay informed on the latest cyber threats
Keep yourself up to date on current scams by visiting this website daily.
Use Strong Passwords
Strong passwords are critical to online security.
Keep your software up to date and maintain preventative software programs
Keep all of your software applications up to date on your computers and mobile devices. Install software that provides antivirus, firewall, and email filter services.
Update the operating systems on your electronic devices
Make sure your operating systems (OSs) and applications are up to date on all of your electronic devices. Older and unpatched versions of OSs and software are the target of many hacks. Read the CISA security tip on Understanding Patches and Software Updates for more information.
What if You Got Scammed?
Stop Contact With The Scammer
Hang up the phone. Do not reply to emails, messages, or letters that the scammer sends. Do not make any more payments to the scammer. Beware of additional scammers who may contact you claiming they can help you get your lost money back.
Secure Your Finances
- Report potentially compromised bank account, credit or debit card information to your financial institution(s) immediately. They may be able to cancel or reverse fraudulent transactions.
- Notify the three major credit bureaus. They can add a fraud alert to warn potential credit grantors that you may be a victim of identity theft. You may also want to consider placing a free security freeze on your credit report. Doing so prevents lenders and others from accessing your credit report entirely, which will prevent them from extending credit:
- Equifax
- Experian
- TransUnion
Check Your Computer
If your computer was accessed or otherwise affected by a scam, check to make sure that your anti-virus is up-to-date and running and that your system is free of malware and keylogging software. You may also need to seek the help of a computer repair company. Consider utilizing the Better Business Bureau’s website to find a reputable company.
Change Your Account Passwords
Update your bank, credit card, social media, and email account passwords to try to limit further unauthorized access. Make sure to choose strong passwords when changing account passwords.
Report The Scam
Reporting helps protect others. While agencies can’t always track down perpetrators of crimes against scammers, they can utilize the information gathered to record patterns of abuse which may lead to action being taken against a company or industry.
Report your issue to the following agencies based on the nature of the scam:
- Local Law Enforcement: Consumers are encouraged to report scams to their local police department or sheriff’s office, especially if you lost money or property or had your identity compromised.
- Federal Trade Commission: Contact the Federal Trade Commission (FTC) at 1-877-FTC-HELP (1-877-382-4357) or use the Online Complaint Assistant to report various types of fraud, including counterfeit checks, lottery or sweepstakes scams, and more.
- Identitytheft.gov: If someone is using your personal information, like your Social Security, credit card, or bank account number, to open new accounts, make purchases, or get a tax refund, report it at www.identitytheft.gov. This federal government site will also help you create your Identity Theft Report and a personal recovery plan based on your situation. Questions can be directed to 877-ID THEFT.
How To Recognize a Phishing Scam
Scammers use email or text messages to try to steal your passwords, account numbers, or Social Security numbers. If they get that information, they could get access to your email, bank, or other accounts. Or they could sell your information to other scammers. Scammers launch thousands of phishing attacks like these every day — and they’re often successful.
Scammers often update their tactics to keep up with the latest news or trends, but here are some common tactics used in phishing emails or text messages:
Phishing emails and text messages often tell a story to trick you into clicking on a link or opening an attachment. You might get an unexpected email or text message that looks like it’s from a company you know or trust, like a bank or a credit card or utility company. Or maybe it’s from an online payment website or app. The message could be from a scammer, who might
- say they’ve noticed some suspicious activity or log-in attempts — they haven’t
- claim there’s a problem with your account or your payment information — there isn’t
- say you need to confirm some personal or financial information — you don’t
- include an invoice you don’t recognize — it’s fake
- want you to click on a link to make a payment — but the link has malware
- say you’re eligible to register for a government refund — it’s a scam
- offer a coupon for free stuff — it’s not real
About Online Threat Alerts (OTA)
Online Threat Alerts or OTA is an anti-cybercrime community that started in 2012. OTA alerts the public to cyber crimes and other web threats.
By alerting the public, we have prevented a lot of online users from getting scammed or becoming victims of cybercrimes.
With the ever-increasing number of people going online, it important to have a community like OTA that continuously alerts or protects those same people from cyber-criminals, scammers and hackers, who are every day finding new ways of carrying out their malicious activities.
Online users can help by reporting suspicious or malicious messages or websites to OTA. And, if they want to determine if a message or website is a threat or scam, they can use OTA's search engine to search for the website or parts of the message for information.
Help maintain Online Threat Alerts (OTA).