{"id":28239,"date":"2022-11-20T11:35:22","date_gmt":"2022-11-20T11:35:22","guid":{"rendered":"https:\/\/www.cos.net.au\/c\/?p=28239"},"modified":"2023-02-01T23:02:15","modified_gmt":"2023-02-01T23:02:15","slug":"protect-our-business-from-phishing-scams","status":"publish","type":"post","link":"https:\/\/www.cos.net.au\/c\/cospedia\/protect-our-business-from-phishing-scams","title":{"rendered":"How to Protect Your Business from Phishing Email Scams"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"28239\" class=\"elementor elementor-28239\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a22ba12 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a22ba12\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-78f3e98\" data-id=\"78f3e98\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-86da50d elementor-widget elementor-widget-text-editor\" data-id=\"86da50d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW86933692 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW86933692 BCX0\">Phishing email scams are a real and growing threat to businesses all around the world. A<span class=\"NormalTextRun SCXW186829580 BCX0\">ccording to the Australian Government\u2019s\u00a0Annual Cyber Threat Report 2022, BEC scam losses increased <\/span><span class=\"NormalTextRun SCXW186829580 BCX0\">by <\/span><span class=\"NormalTextRun SCXW186829580 BCX0\">21<\/span><span class=\"NormalTextRun SCXW186829580 BCX0\"> percent<\/span><span class=\"NormalTextRun SCXW186829580 BCX0\"> year on year to $98 million. The report clearly shows that medium-sized businesses lost 42 percent more than larger organisations.\u00a0 <\/span><\/span><span class=\"NormalTextRun SCXW86933692 BCX0\">While some types of internet crime have decreased in recent years, business email compromise (BEC) scams have <\/span><span class=\"NormalTextRun SCXW86933692 BCX0\">grown<\/span><span class=\"NormalTextRun SCXW86933692 BCX0\"> in terms of both the number of victims affected and <\/span><span class=\"NormalTextRun SCXW86933692 BCX0\">the <\/span><span class=\"NormalTextRun SCXW86933692 BCX0\">total victim loss.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-80bd9b1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"80bd9b1\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ab7ed54\" data-id=\"ab7ed54\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-11f3b4b elementor-widget elementor-widget-text-editor\" data-id=\"11f3b4b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW147916649 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW147916649 BCX0\">The holidays and the months leading up to the end of the fiscal year are prime times for these types of scams. Cybercriminals are aware that people are travelling, looking for the best online deals, trying to manage their payments, or stressed about filling out tax forms<\/span><span class=\"NormalTextRun SCXW147916649 BCX0\">\u2014<\/span><span class=\"NormalTextRun SCXW147916649 BCX0\">an ideal scenario for criminals looking to exploit <\/span><span class=\"NormalTextRun SCXW147916649 BCX0\">others<\/span><span class=\"NormalTextRun SCXW147916649 BCX0\">.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-98aef89 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"98aef89\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-96cad66\" data-id=\"96cad66\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d37a18d elementor-widget elementor-widget-text-editor\" data-id=\"d37a18d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW34859684 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW34859684 BCX0\">With the rise of phishing emails, there has never been a better time to learn how to protect your business from these scams. Businesses need to be aware in order to protect their email inboxes and sensitive<\/span><span class=\"NormalTextRun SCXW34859684 BCX0\"> company and employee<\/span><span class=\"NormalTextRun SCXW34859684 BCX0\"> information.<\/span><span class=\"NormalTextRun SCXW34859684 BCX0\"> W<\/span><span class=\"NormalTextRun SCXW34859684 BCX0\">e&#8217;ve compiled a list of common phishing email scams, how to avoid them, and <\/span><span class=\"NormalTextRun SCXW34859684 BCX0\">what to do if your company has been targeted<\/span><span class=\"NormalTextRun SCXW34859684 BCX0\">.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-86e63df elementor-widget elementor-widget-heading\" data-id=\"86e63df\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Invoice Scams <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a89c63e elementor-widget elementor-widget-text-editor\" data-id=\"a89c63e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW4938930 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW4938930 BCX0\">According to Xero, nearly 1 in every 5 Australian small businesses be<\/span><span class=\"NormalTextRun SCXW4938930 BCX0\">come victims of invoice fraud, costing<\/span><span class=\"NormalTextRun SCXW4938930 BCX0\"> an average of $15,500<\/span><span class=\"NormalTextRun SCXW4938930 BCX0\"> per business<\/span><span class=\"NormalTextRun SCXW4938930 BCX0\">.<\/span><span class=\"NormalTextRun SCXW4938930 BCX0\"> According to the ACCC&#8217;s Targeting Scams report, fraudulent invoices caused the most losses of any scam type in 2019, costing businesses $132 million.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f82246f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f82246f\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-53639dc\" data-id=\"53639dc\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-120e278 elementor-widget elementor-widget-text-editor\" data-id=\"120e278\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW235176778 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW235176778 BCX0\">Invoice scams can occur where a company employee falls victim to a phishing email that lets a fraudster into the company\u2019s email system. <\/span><span class=\"NormalTextRun SCXW235176778 BCX0\">From there, the scammer <\/span><span class=\"NormalTextRun SCXW235176778 BCX0\">can intercept legitimate invoices, falsifying the payment details so that funds go into a new account. Another variant involves simply sending an email in the name of a supplier<\/span><span class=\"NormalTextRun SCXW235176778 BCX0\"> with a fraudulent invoice<\/span><span class=\"NormalTextRun SCXW235176778 BCX0\">. <\/span><span class=\"NormalTextRun SCXW235176778 BCX0\">For big companies with lots of payments, small invoices can be approved without much oversight.<\/span> <span class=\"NormalTextRun SCXW235176778 BCX0\">In both cases, the company pays into a fraudster\u2019s account<\/span><span class=\"NormalTextRun SCXW235176778 BCX0\">, unaware that they have been scammed<\/span><span class=\"NormalTextRun SCXW235176778 BCX0\"> until the supplier asks why payment has not been received<\/span><span class=\"NormalTextRun SCXW235176778 BCX0\">.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f2a4130 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f2a4130\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8e7e64f\" data-id=\"8e7e64f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-70272a4 elementor-widget elementor-widget-heading\" data-id=\"70272a4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">What to do:<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b10cd61 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b10cd61\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9087e7b\" data-id=\"9087e7b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f0c5b9c elementor-widget elementor-widget-text-editor\" data-id=\"f0c5b9c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul style=\"font-weight: 400;\"><li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">The email requesting immediate payment.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li><li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Threatening serious consequences if payment is not made.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li><li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">The <\/span><i><span data-contrast=\"auto\">supplier<\/span><\/i><span data-contrast=\"auto\"> makes contact out of the blue requesting account changes.<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7b6771c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7b6771c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-81fd26c\" data-id=\"81fd26c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3088c1b elementor-widget elementor-widget-text-editor\" data-id=\"3088c1b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW105623675 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW105623675 BCX0\">In addition, b<\/span><span class=\"NormalTextRun SCXW105623675 BCX0\">efore entering your personal or financial information into any website form, make sure it&#8217;s a trusted, verified site.<\/span><span class=\"NormalTextRun SCXW105623675 BCX0\"> Small changes in website URLs and email addresses can be easily identified and flagged for manual approval, reducing the risk of paying a false invoice.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-537ca89 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"537ca89\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c7a8533\" data-id=\"c7a8533\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2e987c5 elementor-widget elementor-widget-heading\" data-id=\"2e987c5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Payroll Scams<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-fa5cccc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fa5cccc\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0b2c4a8\" data-id=\"0b2c4a8\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-356796e elementor-widget elementor-widget-text-editor\" data-id=\"356796e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW78198558 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW78198558 BCX0\">Another type of phishing email scam is the payroll scam, which involves impersonating or compromising an employe<\/span><span class=\"NormalTextRun SCXW78198558 BCX0\">e&#8217;s email account and sending a<\/span> <span class=\"NormalTextRun SCXW78198558 BCX0\">message<\/span><span class=\"NormalTextRun SCXW78198558 BCX0\"> to their employer requesting an update to their bank account details for<\/span><span class=\"NormalTextRun SCXW78198558 BCX0\"> receiving<\/span><span class=\"NormalTextRun SCXW78198558 BCX0\"> their salary. Criminals are opportunistic and seek people who <\/span><span class=\"NormalTextRun SCXW78198558 BCX0\">can <\/span><span class=\"NormalTextRun SCXW78198558 BCX0\">act<\/span><span class=\"NormalTextRun SCXW78198558 BCX0\"> immediately<\/span><span class=\"NormalTextRun SCXW78198558 BCX0\"> on messages they receive, so keep an eye out for urgent requests to update payroll information. These scams can also be carried out over the phone<\/span><span class=\"NormalTextRun SCXW78198558 BCX0\">.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6579751 elementor-widget elementor-widget-heading\" data-id=\"6579751\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">What to do:<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3e96488 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3e96488\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-132f3d5\" data-id=\"132f3d5\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7e86f43 elementor-widget elementor-widget-text-editor\" data-id=\"7e86f43\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW56191510 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW56191510 BCX0\">It is critical that your company validates payment requests or changes to payment details. Create a procedure that requires the receiver to carefully check the requester&#8217;s email address and call them to confirm the request using the contact information you have on file. This is especially important if payment information has changed or if a request appears unusual.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1467ba4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1467ba4\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7979ad4\" data-id=\"7979ad4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c865569 elementor-widget elementor-widget-heading\" data-id=\"c865569\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">CEO Scams<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-329693d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"329693d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0aa0a85\" data-id=\"0aa0a85\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c6f85dc elementor-widget elementor-widget-text-editor\" data-id=\"c6f85dc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW27724345 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW27724345 BCX0\">According to FBI statistics, CEO scams now account for $26 billion in losses, with a 100% increase in identified global exposed losses between May 2018 and July 2019. <\/span><span class=\"NormalTextRun SCXW27724345 BCX0\">A CEO scam, also known as &#8216;CEO phishing,&#8217; occurs when an email appears to come from a senior person in a business, such<\/span><span class=\"NormalTextRun SCXW27724345 BCX0\"> as the CEO or CFO, requesting i<\/span><span class=\"NormalTextRun SCXW27724345 BCX0\">n urgent<\/span><span class=\"NormalTextRun SCXW27724345 BCX0\"> or intimidating language to<\/span><span class=\"NormalTextRun SCXW27724345 BCX0\"> transfer <\/span><span class=\"NormalTextRun SCXW27724345 BCX0\">funds. The c<\/span><span class=\"NormalTextRun SCXW27724345 BCX0\">yberc<\/span><span class=\"NormalTextRun SCXW27724345 BCX0\">riminals hope that by making the email appear to be from a senior person, the recipient will act immediately without validating the request. <\/span><span class=\"NormalTextRun SCXW27724345 BCX0\">These phishing emails could come from a<\/span><span class=\"NormalTextRun SCXW27724345 BCX0\"> compromised email account of the real executive, or from a very similar email address.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-033398e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"033398e\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a52b142\" data-id=\"a52b142\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-51b5284 elementor-widget elementor-widget-heading\" data-id=\"51b5284\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">What to do:<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d25d8b1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d25d8b1\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f978623\" data-id=\"f978623\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3eea767 elementor-widget elementor-widget-text-editor\" data-id=\"3eea767\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW257681548 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW257681548 BCX0\">If your company receives a CEO phishing email or a fake invoice, share it with your employees so they know what to look out for in the future.<\/span><span class=\"NormalTextRun SCXW257681548 BCX0\"> Any unusual payment requests must be clarified in person, so employees in these positions should be encouraged to think critically and contact the person directly. It only takes a few seconds and has the potential to save you and your firm thousands of dollars.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-dc0f745 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"dc0f745\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9158989\" data-id=\"9158989\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5231dbc elementor-widget elementor-widget-heading\" data-id=\"5231dbc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Incentive Scams<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-71b7495 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"71b7495\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-135e861\" data-id=\"135e861\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-62f7804 elementor-widget elementor-widget-text-editor\" data-id=\"62f7804\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW17958621 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW17958621 BCX0\">These emails contain exception<\/span><span class=\"NormalTextRun SCXW17958621 BCX0\">al offers, such as a reward or<\/span><span class=\"NormalTextRun SCXW17958621 BCX0\"> limited-time incentive<\/span><span class=\"NormalTextRun SCXW17958621 BCX0\">, but<\/span><span class=\"NormalTextRun SCXW17958621 BCX0\"> often include malware-infected links or information requests that can be used to compromise the email account and commit large-scale fraud. Even if the email comes from a known sender (like HR or your manger), do not trust it<\/span><span class=\"NormalTextRun SCXW17958621 BCX0\">,<\/span><span class=\"NormalTextRun SCXW17958621 BCX0\"> as their account might have been compromised.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-88b54f9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"88b54f9\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6c44f8d\" data-id=\"6c44f8d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bbb235f elementor-widget elementor-widget-heading\" data-id=\"bbb235f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">What to do:<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9cba25b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9cba25b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4d94cd5\" data-id=\"4d94cd5\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e0c260e elementor-widget elementor-widget-text-editor\" data-id=\"e0c260e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW203165871 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW203165871 BCX0\">It&#8217;s best not to interact with anything in an email that <\/span><span class=\"NormalTextRun SCXW203165871 BCX0\">seems too good to be true or <\/span><span class=\"NormalTextRun SCXW203165871 BCX0\">comes from a source you don&#8217;t <\/span><span class=\"NormalTextRun SpellingErrorV2Themed SCXW203165871 BCX0\">recognise<\/span><span class=\"NormalTextRun SCXW203165871 BCX0\">. That means you can&#8217;t click links, download files, or open attachments. <\/span><span class=\"NormalTextRun SCXW203165871 BCX0\">Always independently confirm such emails by c<\/span><span class=\"NormalTextRun SCXW203165871 BCX0\">hecking-in with <\/span><span class=\"NormalTextRun SCXW203165871 BCX0\">the sender<\/span><span class=\"NormalTextRun SCXW203165871 BCX0\"> or informing the<\/span><span class=\"NormalTextRun SCXW203165871 BCX0\"> IT team<\/span><span class=\"NormalTextRun SCXW203165871 BCX0\">.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<div class='watch-action'><div class='watch-position align-left'><div class='action-like'><a class='lbg-style3 like-28239 jlk' href='javascript:void(0)' data-task='like' data-post_id='28239' data-nonce='9a79b19f35' rel='nofollow'><img class='wti-pixel' src='https:\/\/www.cos.net.au\/c\/wp-content\/plugins\/wti-like-post\/images\/pixel.gif' title='Did you find this useful?' \/><span class='lc-28239 lc'>0<\/span><\/a><\/div><div class='action-unlike'><a class='unlbg-style3 unlike-28239 jlk' href='javascript:void(0)' data-task='unlike' data-post_id='28239' data-nonce='9a79b19f35' rel='nofollow'><img class='wti-pixel' src='https:\/\/www.cos.net.au\/c\/wp-content\/plugins\/wti-like-post\/images\/pixel.gif' title='' \/><span class='unlc-28239 unlc'>0<\/span><\/a><\/div> <\/div> <div class='status-28239 status align-left'><\/div><\/div><div class='wti-clear'><\/div>","protected":false},"excerpt":{"rendered":"<p>Phishing email scams are a real and growing threat to businesses all around the world. According to the Australian Government\u2019s&nbsp;Annual Cyber Threat Report 2022, BEC scam losses increased by 21 percent year on year to $98 million. The report clearly shows that medium-sized businesses lost 42 percent more than larger organisations.&nbsp; While some types of &#8230; <a title=\"How to Protect Your Business from Phishing Email Scams\" class=\"read-more\" href=\"https:\/\/www.cos.net.au\/c\/cospedia\/protect-our-business-from-phishing-scams\" aria-label=\"Read more about How to Protect Your Business from Phishing Email Scams\">Read more<\/a><\/p>\n","protected":false},"author":6,"featured_media":28243,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,8],"tags":[2639,2648,2641,2651,1889,2638,2637,2632,2649,2652,2643,2645,2647,2634,2636,2635,2633,2644,2646],"class_list":["post-28239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cospedia","category-productivity","tag-business-email","tag-business-hacking-scams","tag-ceo-scams","tag-common-business-scams","tag-cybercriminals","tag-email-compromise","tag-email-phishing-scams","tag-email-scams","tag-how-to-avoid-phishing-scams","tag-how-to-keep-business-safe","tag-incentive-scams","tag-internet-crime","tag-malicious-emails","tag-phishing-scam","tag-phishing-scams","tag-protect-business-from-scams","tag-scam","tag-scam-reports","tag-scammers"],"_links":{"self":[{"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/posts\/28239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/comments?post=28239"}],"version-history":[{"count":9,"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/posts\/28239\/revisions"}],"predecessor-version":[{"id":28892,"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/posts\/28239\/revisions\/28892"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/media\/28243"}],"wp:attachment":[{"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/media?parent=28239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/categories?post=28239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/tags?post=28239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}