Fraud Prevention Month: How You Can Prevent Cyber Fraud Attacks From Being Successful

Fraud Prevention Month: How You Can Prevent Cyber Fraud Attacks From Being Successful

Fraud is at the heart of most cybercrime, whether it’s a scammer trying to gain access to sensitive information or a false website set up to gather data from visitors. With varied approaches and unlimited creativity, cybercriminals are constantly coming up with new ways to target businesses.

Here are some of the ways you can protect your business against internet-based fraud:

Understand the Various Threats

Some companies concentrate all their cybersecurity efforts on one aspect of protection, leaving other vulnerabilities unaddressed. While newer approaches to stealing data, like ransomware, are often reported in the news, seemingly old-fashioned approaches to cyber fraud, like phishing scams and spoofing, are still effective tactics. Making sure you’re aware of common scams that target businesses helps you prevent the theft of passwords and data.

Partnering with an expert security firm can help you identify the potential points of cybercriminal attacks so that you can take steps to make your business more secure.

Protect Your Data in Multiple Ways

Secure all of the common areas of attack, including:

  • Employee email accounts and network server passwords
  • Hardware devices that store copies of potentially sensitive information, such as printers and scanners
  • Shared network drives that give multiple employees access to sensitive information
  • On-site servers

Some of these potential entry points for cybercriminals can be secured using advanced forms of user authentication, moving data offsite to a secure data center or the cloud, and requiring more stringent security protocols within your building, like biometric access to secure areas.

Make Your Staff Aware of Best Practices

Research conducted in 2018 showed that more than 90% of successful security breaches into corporate data begin with a phishing attack. These attacks can be quite sophisticated and hard to recognize unless you know the warning signs. Everyone with access to your network, no matter their level of security clearance, should be informed about best practices and ways to prevent fraud from happening. Seemingly small bad habits, like failing to change passwords frequently or allowing another employee to use their access codes, can lead to large security breaches.

Conducting security awareness training with your staff can help them better understand the finer points of complying with best practices and following industry-mandated compliance guidelines. When the training is complete, your workforce will be prepared to spot potential threats and better protect sensitive customer data.

Consult With Security Experts

While you can stay informed and aware to a certain degree, security experts have a deeper understanding of the issues you face and how to protect against them. They also have training in how to effectively teach and engage people with various levels of technical knowledge.

If you need help protecting your company’s valuable data against fraud, contact Canary Trap today. Our team can provide increased security measures, help you prevent breaches, and train your employees to protect your sensitive data from cybercriminals.


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