Top 4 Fraud Trends of 2020 and How Criminals are Targeting YOUR Business

By |2020-01-15T12:09:05-05:00January 15th, 2020|Cyber Security Awareness, Dark Web Monitoring, IT Support, Office 365 & G Suite, Uncategorized|

If we asked you to guess which category of crime that continues to inflict companies of all sizes with damages amounting to billions of dollars annually, you probably wouldn’t think it’s cyber crime. Staying updated on the latest attack types and prevention techniques is the only way to future-proof your organization. Facebook was one of the World’s Biggest Data Breaches and Hacks just last September with 419,000,000 compromises. That’s why we have compiled here 4 fraud trends of 2020 from our experts that you won’t want to miss:

Fabrication

Synthetic identity fraud is initiated when a hacker procures a social security number by theft or purchase on the Dark Web, and then fabricates an associated name, DOB, email account, or phone number. From there, the fake identity is legitimized and nurtured in order to exploit lines of credit. Once a fraudster is able to become an authorized user, a process that typically takes 5 months, the “bust-out” is ready to be executed. When the dust settles, creditors and businesses are left with dummy accounts filled to the brim with credit card maximums, loans, and cell phone/utility plans. An example of this is was seen last month in September, where a Toronto man was out $2,775 after e-transfer fraudsters impersonated him on email.

Ransomware

The “R word” can send chills down the spine of any business owner, and for good reason. Two cities in Florida were forced to pay over a million in aggregate bitcoin ransom, only after losing access to phone and email systems for multiple weeks. Municipalities are not alone, and a quick glance at data breach news headlines on any given week will reveal SMB attacks as well. 

Account Takeover

Understanding how criminals are targeting your business or vertical is a fundamental component to any sound cybersecurity strategy. Nevertheless, “the nature of work for a CISO is often reactive”, tasked with establishing a Security Operations Center filled with analysts who are looking to spot a needle in a haystack. On the other hand, the commoditization of crimeware and “spray-and-pray” techniques have led to a higher frequency in breaches, many of which are executed by non-sophisticated hackers. Solving account takeover fraud at the small business and medium enterprise level in today’s world requires purpose-driven teams and technologies that can protect your business smarter and more efficiently. 

Universities and Municipalities

Just last summer, three US universities disclosed data breach incidents within a two-day span. However, this pales in comparison to 2018’s highlight. In March 2018, nine hackers breached 144 US universities, charged with stealing 31 terabytes of data worth roughly $3.4 billion in intellectual property. Such breaches have a ripple effect across all verticals and companies, driving consumer awareness and raising the standard for cybersecurity for everyone. In Canada, the University of Ottawa, City of Saskatoon and City of Burlington all experienced ransomware by simple email compromises. 

How Can E-Tech Help? 

Dark Web Monitoring

Security researchers estimate that in the first half of 2019 alone, 23M+ credit and debit card details were being sold in underground forums. Once such data dumps hit the Dark Web, cybercriminals will exchange stolen information and credentials in order to orchestrate damaging fraud schemes. Dark Web Monitoring is designed to help both public and private sector organizations detect and mitigate cyber threats that leverage stolen email addresses and passwords. The award-winning platform combines human and sophisticated Dark Web intelligence with search capabilities to identify, analyze and proactively monitor for an organization’s compromised or stolen employee and customer data. Get a Free Dark Web Scan Today.

Cyber Security Awareness Training

The number 1 reason people are victimized by cyber crime is human error. No industry is safe from cyber security threats – even experts like us are targeted by cyber criminals. That’s why we recommend our all-in-one comprehensive advanced Cyber Security Awareness Training Program, to keep you and your employees safe from the dark web. Our Training includes: a presentation to your employees, advanced training modules and course completion certificates, phishing email simulators and fully detailed reporting. Try our Free Cyber Security Training Module.

Top 10 Cybersecurity Tips:

  1. Create unique passwords and enforce multi-factor authentication for all network users.
  2. Install spam-filtering solutions with anti-phishing capabilities across your network.
  3. Leverage web-filtering programs that block phishy websites.
  4. Prepare for cryptojacking attacks.
  5. Purchase SMB security suites that include Dark Web monitoring.
  6. Involve all stakeholders in raising cybersecurity awareness across your organization.
  7. Assess your organization’s information, protection, and access regularly.
  8. Ensure that all third-parties have cybersecurity protocols and policies in place.
  9. Build a cybersecurity incident response plan (CIRP) and democratize key information.
  10. Partner up with experts to train your employees every month.
Feel Free to Contact Us for More Information.>

What Are The 3 Fundamental Goals of Cyber Security?

By |2019-11-13T16:29:28-05:00November 13th, 2019|Cyber Security Awareness, Uncategorized|

If you are like most owner/managed companies today, the internet is an indispensable tool for success in today’s digital economy. Going online allows you to communicate with current customers and reach out to new ones to grow your business.

Of course, this is old news – but what people fail to think about is that being online should go hand in hand with being safe and secure.

As a business, you owe it to your customers, suppliers, and employees. But most of all, you owe it to yourself. What are the consequences of not being cyber secure? The cost in terms of both time and money can result in destroying in a few minutes all that you have created and worked to build up over many years.

Cyber security is about protecting your information, which is often the most valuable asset a business will own.

What are the 3 fundamental goals of cyber security?

(a) confidentiality – any important data you have should only be accessible to people or by systems to who you have given permission;

(b) integrity – the assets themselves and information they contain must continue to be complete, intact and uncorrupted and;

(c) availability – all systems, services and information must be accessible when required by the business or its clients.

To achieve and maintain these goals, good cyber security requires:

(i) determining the assets that are so important to the business that they need to be kept secure at all times;

(ii) identifying the threats and risks;

(iii) identifying the safeguards that should be put into place to deal with these threats and risks;

(iv) monitoring the safeguards and assets to manage security breaches;

(v) responding to cyber security issues as they occur and;

(vi) updating and adjusting safeguards in response to changes in assets, threats and risks.

How do you determine which are your most important assets? It’s especially hard when they are all called upon in the course of a day or a week to perform functions that which you depend.

Every business will answer this question in their own way, but any analysis must include the assets that when exposed to a threat, the business could not operate if they were down for any extended period.

The term “threat” refers to any potential danger to the business, its assets or employees. Some of these threats can come via nature, like a fire or flood. A simple solution to natural disaster is to refrain from storing all your eggs in one basket, or to diversify your portfolio. Basically, you should have a proper business continuity plan.

But threats are most likely to originate from individuals inside or outside the organization. Whether it’s cyber criminals maliciously attacking you with phishing emails, malware, ransomware, or social engineering attacks – or your employees “accidentally” deleting crucial data, its imperative to have the right safeguards in place and to keep your staff alert with cyber security awareness training.

Safeguards are anything you can use to counter threats and reduce risk. They can be either software or hardware but most importantly they are management policies and specific procedures for everyone in the organization to follow, including clients.

A big part of cyber security involves being alert to things that seem to be “out of the ordinary”. Employees must always feel that they can report security concerns, observations or questions to someone in authority who will listen to what they have to say, document what has occurred and take appropriate action.

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Microsoft Ending Support for Windows 7 on January 14, 2020

By |2019-09-12T10:52:32-04:00September 12th, 2019|IT Support, Office 365 & G Suite, Uncategorized|

If you’re still running your business on Windows 7, your luck is starting to run out. According to Microsoft, Windows 7 will no longer receive support after January 14, 2020. Microsoft will no longer provide security updates or support for PCs running Windows 7. Now is the time to upgrade to latest version of Microsoft, Windows 10. [1]

What does this mean for you?

You can continue to use Windows 7 without any issues, but after January 14, your PC will become more vulnerable to security risks. Windows will operate, but you will stop receiving security and feature updates.

If you’re on a Windows 7 computer, you will not be prompted to get a free upgrade to windows 10 as it was previously for the original Windows 10 release. Now users running on Windows 7 will have to purchase and upgrade version like Windows 10 for a cost.

Microsoft 365 Business comes with a free upgrade for users with a Windows 7, 8, or 8.1 Pro license on their device. By purchasing Microsoft 365 Business, your users can upgrade all their old Windows Pro licensed devices at no additional cost.

Why should I upgrade?

With Microsoft no longer supporting Windows 7, it means you’ll no longer receive security and operation updates

You might ask, are security and feature updates really that important for my business operations. The answer is a resounding yes!

The well-informed might remember the worldwide cyber attack known as “WannaCry” that struck over 200 000 computers in 2017. This form of ransomware encrypted the computer’s files and demanded ransom payments from companies in order to get them back. How could this happen? WannaCry attacked computers who were still running older Windows operating systems and had not yet been upgraded to the most recent security upgrades.

If you get a security breach the amount of downtime and recovery could be devastating to deal with especially if you’re a small business or non-profit.

Besides security and support, other reasons to upgrade to a newer version are: faster speeds on startup, Cortana (talk to your computer just like Siri), access to universal apps, voice typing, and nearby sharing options. [2]

How can E-Tech help?

The best practice with all security risks is to act on them as soon as possible. You can be sure that you’re at risk immediately when the support ends. We can upgrade your Windows 7 PCs seamlessly for you, leaving you stress-free. We encourage you to contact us to to get started. If you’re eager to go through the process yourself, check out this checklist to find out if you should upgrade or replace your equipment:

Can’t see this pdf? Download it here.

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