How much would fraud cost your business?
Fraud can often be associated with large companies. It usually involves thousands of employees and teams dedicated to security.
Fraud is an ever-increasing threat for companies of all sizes; small and midsized businesses being particularly at risk.
Why?
A lot of companies don't provide equal resources, protection measures or formal training to their workers as large corporations do.
Identity fraud refers to someone impersonating someone they trust (like your staff member, supplier or customer) with the intention of stealing money, accessing sensitive data or breaching systems.
As soon as a user submits login credentials for use by cybercriminals to gain entry to sensitive business tools, he/she could receive an email purporting to be from their finance manager requesting payment immediately. If such emails arrive, be cautious. Cybercriminals could use them to gain entry and use stolen login credentials against you to gain entry.
What are the most commonly used means of entering a website?
Taking advantage of stolen usernames and passwords. While this technique has been around for quite some time now, it still works effectively.
Modern AI tools make it more difficult to detect scams. Criminals now can create convincing emails, voice recordings and videos to look and sound genuine.
Around 69% report an increase in fraud attempts.
Businesses which utilize improved identity protection technologies like biometric logins and device recognition as well as AI-powered fraud detectors are reaping significant savings, with far fewer costs associated with fraud reported by them.
Review your login procedures:
Even small modifications can have an immense effect.
Can passwords that are both unique and not shared across applications be created?
Do you use multifactor authentication - whereby a code will be issued on another device to verify your identity - in order to prevent unauthorised login attempts?
Training will assist your team in recognizing suspicious emails and messages more easily. Our objective is not to create complicated security for your business that slows it down; our aim is instead to develop intelligent user-friendly security that protects it efficiently without hampering its productivity.
Are you in need of assistance evaluating your current setup or selecting tools suitable for your business? Let us be of assistance; contact us.
