50% of SMBs Hacked; 6 Tips to Keep Your Company and Clients Safe

Not only are individuals the targets of cybercriminals, but increasingly, small to medium businesses (SMBs) are being attacked through phishing and ransomware. Currently, 50% of all SMBs experience some form of malware attack and the consequences can be devastating. Along with crypto scams and forex trading scams, malware attacks are a major threat to companies, employees, and their clients. 

Cybercriminals often think like pirates on the high seas. They do not want to bother apprehending small boats. They are looking for ships that have a lot of people and plunder. The very large ships may be well-fortified and they may not be able to fight against them. Therefore, they attack the small to medium ships for more loot than individual boats and less protection than massive ships. 

This analogy holds true in the current situation where an SMB is attacked with malware every 11 seconds. In major attacks that compromise data or funds, 60% of these companies go out of business within 6 months of the attack. 

Companies that have had accounts and client data compromised through malware or phishing should report the crime immediately and seek assistance with fund recovery services. Whether they have had to pay bitcoin in a ransomware attack or have had invaders infiltrate their accounts, Fund Recall has the resources to help clients recover their funds and track down cyber scams. 

Improve your chances of successful fund recovery by consulting with Fund Recall experts. We have combined decades of expertise and have proven techniques for tracking crypto transactions, negotiating with banks, financial authorities, law enforcement, and government bodies. We work on behalf of our clients to combat forex trading scams, crypto scams, and other frauds and have a proven track record of success.

Tactics CyberCriminals Use

Cybercrime has come a long way since the embarrassingly obvious Nigerian Prince email scams years ago. Now they disguise themselves not only as knowledgeable and qualified professionals, as in crypto scams and forex broker scams, but they can convince many that they are from government organizations or even within the company. 

The following are common ways hackers find to inject malware or to phish information to attack an SMB:

  • Mass mailing phishing
  • Spear phishing
  • Social Engineering or Impersonation
  • Low tech or phone phishing

The infamous and hackneyed Nigerian prince email scam is an example of a mass mailing scam. However, techniques have become more sophisticated. You may receive an email from a sender that purports to be from Microsoft, Google, Amazon, or another major company many people use. The appearance of the email may be almost identical to the real one. 

The company may ask the user to confirm sensitive information or may provide a fake login page to input data. They could also ask them to download a file or to click on a link. Any of these tactics can quickly compromise data. 

Spear Phishing, unlike mass mailing, targets specific people. Cybersecurity experts warn that most consumers leave a lot of information about themselves on social media. It is relatively easy for a hacker to find out enough about them that they know how to target the reader and can predict what they will respond to. 

Social engineering or impersonation is involved in a scenario in which someone pretends to be from the company IT department and asks for access to an employee’s device or login information. 

This is what happened in the hacking of Twitter in 2020 when hackers pretended to be from Twitter’s IT department and asked for access to employee VPNs. They may do this on the phone since there is a belief that the phone is somehow safer and will give information there. 

6 Tips to Keep Your SMB and Clients Safe

  1. Update cybersecurity Software
  2. Always verify before clicking or downloading
  3. Look at the domain
  4. Implement two-step verification in the company
  5. Slow down and check every request for data

One of the quickest and easiest ways to avoid malware and ransomware attacks is often ignored. Cyber experts warn that a vast majority of SMB remain unprepared for a potential malware attack simply because they have insufficient security software or are working with outdated versions. Every business owner must ensure that all employees are working with the latest version of security software. 

No one in the company should click or download anything without verifying the request. This may mean a quick phone call or text to the department to ensure the request is authentic. Again, this is a step that can take only a few minutes but can save the company’s money and data.

Check the domain of the email address. That is a step most phishers assume recipients will skip. There is usually something fishy about the phishing email address, so take a look before proceeding further. Companies should implement a two-step verification process that goes beyond simply inputting passwords. In addition, the reader should be sent a code to enter before accessing information. 

Cybercriminals of all types, whether they are running crypto scams, forex trading scams or phishing scams, create a false sense of urgency. They are trying to get the other person to feel that the issue is an emergency and has to be done right away. This is to prevent them from doing the checking and verification necessary to stay safe. 

When Fund Recovery Is Needed

In spite of all of these precautions, a business might be attacked in a phishing and malware scam. If this happens, it is important to report the incident to the authorities and to seek the aid of a fund recovery service. Fund Recall experts can help your company weather the crisis, uncover the scam, and retrieve funds. 

Fund Recall Will Help You Get Your Money Back

If you or your company has been the target of a cybercrime, a forex trading scam, or crypto scam, don’t give up hope of getting your money back. Our experts are can guide you through the process from filing a complaint to working with authorities and recovering your funds. 

 

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