Phishing is a type of cybersecurity attack involving manipulation and fraudulent access to sensitive personal information. The cost of a phishing attack can be staggering, as a single incident can come with an average $3.7 million price tag. Understandably, no company wants to be a target of this security risk. Here is what you need to know about phishing and how to protect your business, customers, and bottom line.

How It Works

A phishing attack is fairly simple in execution. In most cases, it takes the form of official-looking emails that claim to be from established, reputable companies. The message will have a link for the recipient to click on, which will direct them to a website that will look legitimate. It will prompt them to enter login credentials, credit card numbers, or other sensitive information.

Typically, the email contains a specific false claim that compels the recipient to click on the link. For example, it could notify the targeted individual that their account password is expiring or that they need to update a credit card number to continue service. 

Signs

Phishing emails often look remarkably like legitimate ones, as scammers utilize the same fonts and layouts that reputable companies and organizations use. However, training your staff and customers to look closely at suspicious emails will allow them to detect potential cybersecurity risks. Some of the most common signs include:

• Unprofessional language, misspellings, or grammatical errors.
• Domain names and email addresses that don't match.
• Links that go to domains other than the alleged organization's.
• Strange requests, like asking for passwords or requesting wire transfers.
• A sense of urgency with words like "Immediate Action Required," "Response Needed," or "Final Attempt."

Prevention

Educating employees and customers on phishing will enhance cybersecurity and keep your business safe. A periodic reminder email is an excellent way to do this. This approach will ensure employees protect your business from phishing attacks, while customers can spare themselves the cost and stress of being duped by a company that claims to be you.

Two-factor authentication can also protect data, so implement it on all business systems that contain sensitive information. This technology requires two login credentials for added cybersecurity, such as a password and a physical object like a smartphone. Also, set employee passwords to expire every 30 to 90 days and prevent them from utilizing any previously used ones.

Along with a solid prevention strategy, you can minimize the risks posed by phishing by working with Top Speed Data Communications. For more than 20 years, this company has provided cybersecurity solutions to businesses throughout Petaluma, CA. They also offer VoIP systems, cloud storage, and disaster recovery services. Call (707) 242-8280 to schedule a phone consultation, or visit them online for more information on how they can boost your business.