Psst: CISOs and experts, this is one of our beginner-oriented articles! If you're looking for more advanced material, we recommend a dive into the blog archives!
The Cost of Employees Falling for Scams
Employees of all companies - especially cybersecurity-related ones - need to be aware of the scam emails and texts that are on the rise in 2023.
Ahoy, mateys! Steer your ship into the treacherous waters of cybersecurity, where hackers and scammers lurk like modern-day pirates. In 2023, the potential cost of employees falling for scams is a veritable treasure chest of trouble. But fear not, for the Cybeermaniacs are here to save the day (and your doubloons).
First, let's set the scene. Picture an average-sized company, bustling with activity and brimming with sensitive data. It's like the Death Star from Star Wars – full of secrets and vulnerabilities just waiting to be exploited.
The risks of security breaches are as vast as the ocean. Here's what you can expect if your crew falls prey to these digital pirates:
- Leaked sensitive information: It's like a broken dam, with your confidential data flooding out into the hands of cybercriminals. And once it's out there, it's almost impossible to reel it back in.
- Financial losses: Imagine your company bank account being plundered by pirates – that's the kind of financial hit you could take when your employees fall for scams. Bad actors may trick employees into sending money.
- Legal fees: If your company gets tangled up in legal battles because of a security breach, you'll need a team of lawyers to navigate the stormy seas of litigation. And trust us, they don't come cheap.
- Damage to brand and reputation: When word gets out that your company's been compromised, it's like a siren song of bad publicity. Customers may jump ship, and your competitors will circle like sharks, ready to snatch up your business.
- Business downtime: Another risk is system downtime resulting from a cyber attack, leaving the business unable to perform its duties due to no access to vital systems and a loss in revenue. If the business deals with other businesses, those other businesses could also be affected by the cyber attack depending on how closely their systems are linked. If this business is a supplier to other businesses, those businesses could lose revenue if supplies are not delivered on time.
But despair not, brave captains of industry! Our product is like your very own superhero, swooping in to save the day (and your bottom line). By implementing our cutting-edge solutions, you can:
- Bolster your defenses: We'll help you practice best cybersecurity practices to build a fortress around your company's critical assets, keeping those pesky hackers and scammers at bay.
- Train your crew: We'll teach your employees how to spot scams and avoid getting caught in the cybercriminals' nets. Employees need to be reminded to stay alert for suspicious activity.
The financial hardship department scam email, for example, pretends to offer relief for people who are struggling due to the effects of COVID-19. Instead, it infects a device with malware.
What Types of Scam Texts and Emails Have We Seen In the Past?
- CEO fraud is common in texts and emails, as a scammer pretends to be an executive to trick employees into doing something. A typical recent trend: the scammer pretends to be the CEO and texts an employee at their personal phone number to buy gift cards. The fraudster signs it as an executive, preying on the fact that some employees will act urgently because the message supposedly comes from a leader in the company.
- Tech support phishing email: You may get a warning email that your computer's operating system has detected an error
- Fake bank text messages or email: your bank reaches out to say there's been an unauthorized charge or an issue requiring the user to click on the link and provide their login information.
- A fake tracking number is sent to you about a purchase you never made.
- A scammer pretends to be a legitimate company in a fake text message or email to get your login details or sensitive information.
- The email that tricks you into downloading attachments that actually contain malware or viruses meant to harm your device.
- There are many more, and we advise you always to report any unknown or suspicious emails.
- Fun tip: try searching for the exact language in the email to see if it matches other reported email scams.
- Second fun tip: The best tip for spotting scams are to hover over a link in a message and analyze the URL to see where it is trying to take you really. Copying the link and pasting it into this site can also let you know if the site is malicious: https://www.virustotal.com/gui/home/url
Hoist the Jolly Roger and set sail for a safer future with our product! Together, we'll navigate the choppy waters of cybersecurity and ensure your company stays afloat amidst the onslaught of digital pirates.
Don't let your business become another cautionary tale – take action today and protect your treasure from the clutches of cybercriminals.
If you want to learn more about our innovative, engaging cybersecurity training, let’s talk! Get in touch with us.
Team CM
