Warning to Business
The Australian Competition & Consumer Commission today called on businesses to urgently review how they verify and pay accounts and invoices with a big rise in business email scams being reported.
The scams involve the unauthorised access or the ‘spoofing’ of business email accounts with recent losses totaling $2.8million.
The ACCC says the scams are very sophisticated, which is why many businesses only realise they’ve been caught out once it’s too late.
One variant of the scam involves hackers claiming that a business’s banking details have changed and that future invoices should be paid to a new account.
Another sees attackers sending an email internally to a business’s accounts team, pretending to be the CEO, asking for funds to be urgently transferred to an offshore account.
The ACCC says the scams target all kinds of businesses, including charities and local sporting clubs.
Having adequate IT security to remove rogue emails before they become a risk to your business is the best protection.
THINK Technology Australia can provide email security solutions, which integrate with email hosting providers like Microsoft Office 365. Email traffic is scanned at the gateway to stop threats before they gain access to your servers. Safer web browsing is enabled by preventing the download and execution of malicious codes.
For more information on how we can help protect your business from cyber-attacks call us on 1300920 866.
The full ACCC report can be read at HERE