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3 Current Phishing Techniques That Put Your Business at Risk

You’re never entirely safe on the internet, and computer devices always have vulnerabilities that attackers can exploit. Others are more malicious than others, and in recent years, the number of attacks regarding phishing has been fairly alarming. Here’s what you need to know:

Business Email Compromise

Business Email Compromise or BEC is when attackers send you a phishing email that will seemingly appear as received from a reliable and known outlet with a proper request. Generally, these are carefully socially engineered approaches using the information of an individual that you trust. This allows them to easily enter the system as you don’t think twice about accepting the request.

To make them more deadly, BEC can be paired with a variety of viruses, malware, and more for additional damage. According to the FBI, they’re one of the most financially damaging online crimes.

Impersonation Attacks (AKA Executive Impersonation)

Impersonation attacks have existed for a while, but executive impersonation attacks are now becoming fairly common. Here, the attacker takes on the identity of someone high up the hierarchy, such as an executive, and attacks an employee that might be able to provide either sensitive information or transfer funds into an account. Social engineering plays a major role in this regard.

During the COVID-19 pandemic, many businesses were prone to such kinds of attacks. Criminals pretending to be the US Small Business Administration (SBA) were able to scam various SBA applicants seeking loans out of their private information.

A hacker working.

Whaling Attacks

While executive impersonation has someone pretend to be an executive speaking to someone down the hierarchy, whaling attacks work differently. The person may pose to be an executive, trying to get in touch with another executive. Whaling attacks are a lot more common than you might think, with 59% of organizations reporting that executives have been targeted in such attacks.

A lot of effort goes into whaling attacks. A great example is Dream Works Animation CEO Jeffrey Katzenberg falling victim to such a breach. Voice alteration technology, detailed social engineering, and various means were compounded to fully convince Katzenberg that he was speaking to a reliable source.

Ensure that you’re maintaining protection online from numerous threats using a VPN. A VPN proxy for business keeps you secure from new and old vulnerabilities on the internet. Use a service from the best VPN service providers. VPNGeniX helps you find the right VPN providers for your small business. Get in touch with us today.