The Latest Cyberthreats to Businesses

Ransomware is the latest cyber threat. Ransomware blocks access to business files and demands payment to restore access. Users infect the computer by clicking a link or opening a malicious attachment. Ransomware will appear on the screen and cannot be minimized.

Cybercriminals increasingly take over email accounts to send fraudulent requests for fund transfers or withdrawals. Cyber criminals may use compromised address books to target financial contacts for fraud. Fraudulent emails often use poor grammar and a false sense of urgency to prompt payments.

Remind all employees to never take any instructions for payment via email. Always confirm financial transactions verbally and utilize dual control.

With Corporate Account Takeover, cybercriminals gain control of a business’s bank account by stealing valid online banking credentials. Once online credentials are gained, it could lead to the unauthorized withdrawal or transfer of funds from business accounts.

Malware refers to malicious software such as viruses and trojans that are intended to cause harm. Malware today is sophisticated and will allow cybercriminals to be able to impersonate a business in online banking sessions.

Typically, malware is delivered via:

• Malicious mobile applications
• Malicious URLs
• Phishing or "SMiShing"

Once installed malware can lead to the following:

• Observing and tracking user behavior
• Copying keystrokes
• Stealing intellectual property
• Taking control of the computer and performing illicit or illegal tasks.

Stolen identities are the fuel that drives the industrial fraud complex. Data breaches often result from social engineering or phishing attacks that trick victims into revealing sensitive information. That information can then be used for account takeover or fraud. Data breaches can result in stolen customer information, credit card information and sensitive employee information.

Social media sites can be important marketing channels for businesses, but be careful. Malicious code is increasingly injected into social networking sites, including harmless looking links, advertisements and game apps. Social media can provide cyber criminals with information used to access personal accounts and sensitive data.