Aegis Security Consulting’s Post

Are you worried about ACH payment fraud threatening your business's financial security? 🤔💸 Check out our latest blog on combatting #ACHPaymentFraud and fortifying your business against potential risks. Discover actionable steps to mitigate fraud and learn how professional assistance can enhance your cybersecurity defenses. 🛡️🔐 At Paynote, we prioritize the safety and security of your financial transactions. Our advanced ACH payment processing solutions are tailored to protect your business from fraud while ensuring seamless operations. 🌐✅ 🔗 Read the full blog post and find out how you can take proactive measures to safeguard your business. #FraudPrevention #BusinessSecurity #SeamlessChex #Paynote

Business Email Compromise Attack Business Email Compromise (BEC) is a sophisticated type of phishing attack where cybercriminals impersonate executives or trusted business partners to deceive employees into transferring money or sensitive information. Business Email Compromise (BEC) attacks continue to pose a significant threat to organizations of all sizes. In 2023, BEC attacks more than doubled, with an average of 10.77 attacks per 1,000 mailboxes each month - a staggering 108% increase from 2022. 𝐂𝐨𝐦𝐦𝐨𝐧 𝐓𝐲𝐩𝐞𝐬 𝐨𝐟 𝐁𝐄𝐂 𝐒𝐜𝐚𝐦𝐬 🎯 𝐂𝐄𝐎 𝐅𝐫𝐚𝐮𝐝:: Impersonating executives to request fund transfers 🎯 𝐁𝐨𝐠𝐮𝐬 𝐈𝐧𝐯𝐨𝐢𝐜𝐞 𝐒𝐜𝐡𝐞𝐦𝐞: Posing as suppliers to redirect payments 🎯 𝐀𝐜𝐜𝐨𝐮𝐧𝐭 𝐂𝐨𝐦𝐩𝐫𝐨𝐦𝐢𝐬𝐞: Hacking real accounts to send fraudulent requests 🎯 𝐀𝐭𝐭𝐨𝐫𝐧𝐞𝐲 𝐈𝐦𝐩𝐞𝐫𝐬𝐨𝐧𝐚𝐭𝐢𝐨𝐧: Pretending to be lawyers handling confidential matters 🎯 𝐃𝐚𝐭𝐚 𝐓𝐡𝐞𝐟𝐭: Targeting HR/finance staff to obtain employee information As a security professional, I can't stress enough the importance of protecting your organization against these sophisticated scams. Here are some key insights and actionable steps: ❶ Implement robust email authentication protocols like DMARC, SPF, and DKIM to validate sender authenticity and prevent spoofing. ❷Educate employees on recognizing BEC red flags, such as urgent requests, domain mismatches, and unusual payment instructions. ❸Enforce multi-factor authentication (MFA) across all email accounts to add an extra layer of security. ❹Utilize advanced email filtering solutions that can detect and block phishing attempts and fraudulent URLs. ❺Conduct regular security audits to identify and address vulnerabilities, including inactive accounts with weak passwords. Remember, the average cost of a successful BEC attack exceeds $125,000. Don't let your organization become another statistic. Take proactive measures today to strengthen your email security posture and protect your business from these costly attacks. 𝐀𝐫𝐞 𝐲𝐨𝐮 𝐥𝐨𝐨𝐤𝐢𝐧𝐠 𝐟𝐨𝐫 𝐚 𝐜𝐲𝐛𝐞𝐫𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐥𝐞𝐚𝐝𝐞𝐫 𝐰𝐡𝐨 𝐜𝐚𝐧 𝐥𝐞𝐚𝐝 𝐚𝐧 𝐞𝐟𝐟𝐞𝐜𝐭𝐢𝐯𝐞 𝐜𝐲𝐛𝐞𝐫𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐚𝐰𝐚𝐫𝐞𝐧𝐞𝐬𝐬 𝐩𝐫𝐨𝐠𝐫𝐚𝐦 𝐚𝐧𝐝 𝐟𝐨𝐬𝐭𝐞𝐫 𝐚 𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐨𝐟 𝐜𝐲𝐛𝐞𝐫 𝐚𝐰𝐚𝐫𝐞𝐧𝐞𝐬𝐬❓ 𝐋𝐞𝐭❜𝐬 𝐜𝐨𝐧𝐧𝐞𝐜𝐭 𝐚𝐧𝐝 𝐝𝐢𝐬𝐜𝐮𝐬𝐬. https://lnkd.in/egYuGF5r #opentowork #cybersecurity #BECattacks, #cyber_awareness #Leadership

Business Email Compromise Costs $55bn Over a Decade New data from the FBI reveals the staggering impact of Business Email Compromise (BEC) scams, which have cost businesses over $55 billion since 2013. This alarming trend underscores the growing need for heightened cybersecurity measures and increased awareness. Dive deeper into the details and ramifications of this report. #CyberSecurity #BECScams #DataBreach

Have you ever had a background check for work? If so…👇🏾 …your identity might be at risk following a recent data breach involving National Public Data, a company handling personal information for background checks. The attack happened in April 2024. Yes, almost 4 months ago. The hackers have since leaked that very sensitive data, including names, Social Security numbers, and addresses, impacting millions of individuals. To safeguard yourself: - Update Your Passwords: Secure your accounts with strong, unique passwords. - Use Two-Factor Authentication: Add an extra layer of security to prevent unauthorized access. - Monitor Financial Activity: Regularly review bank and credit card statements for any unusual transactions. - Check Your Credit Report: Look out for unfamiliar accounts or suspicious activity. - Freeze Your Credit: Prevent unauthorized account openings with a credit freeze. - Exercise Caution with Emails: Beware of phishing attempts asking for personal information. Be on the lookout of news about the breach and updates from National Public Data for guidance on affected information, hopefully. 😬

An interesting decision by the WA District Court. It highlights not only the need for good cybersecurity, but also the importance of appropriate controls around the approval and payment of large invoices, particularly where bank details are changed unexpectedly.

1500 Phone numbers were compromised according to news outlets. SIM swapping is a significant yet often overlooked issue. With the rise of AI-powered impersonations, this threat is becoming even more severe. As cybersecurity experts, how can we prevent this? The answer lies in education and stronger security protocols. #POPP3R #Cybersecurity #SIMswapping #2fa

The recent case of identity theft reminds us how vulnerable we can be to cyberattacks, especially while traveling. Protecting your identity is not just an enterprise responsibility; it starts with you. Here are some essential tips: Strong Passwords & MFA: Use unique passwords for every account and enable multi-factor authentication. Secure Your Devices: Avoid public Wi-Fi; use a VPN when accessing sensitive information. Watch for Phishing: Be cautious with links and emails requesting personal data. Authenticate the recipient before sharing your personal details. Enable multi-factor authentication (MFA) for critical accounts. Monitor accounts for unusual activity through IAM intelligence tools. Use identity protection solutions to detect and respond to breaches. At Inspirit Vision, we emphasize the importance of personal and organizational security. Stay proactive, stay secure! #IdentityTheft #CyberSecurityTips #IAM #InspiritVision

Two quick lessons from this case: 1. Always check invoice details, and confirm bank details directly with your supplier if they have changed or for significant transactions (implement an AP policy that sets a limit that, once breached, requires direct confirmation?) 2. SME's need to invest in Cybersecurity measures (Ashwin Pal has developed a low cost SME Cyber Security package if you're interested) This is relevant for all industries, but in particular property and construction due to volume and large payments Adam Crowley.

Please be vigilant, with many recent incidences of companies and individuals being scammed as hackers interrupt large transactions, companies must seek advice to ensure they have adequate protection. This case is a first in this space. Ashwin Pal leads our cyber security team and can assist you.

"Businesses are being warned to be vigilant against invoice scams, after a likely precedent-setting decision by a WA court. Company Inoteq Pty Ltd has been ordered to pay more than $190,000 to Mobius Group after paying a fraudulent invoice. Hackers used the email of Mobius's director to send the invoice with new bank details and the court found Inoteq didn't do enough to protect itself." Very interesting. Quite clearly highlights the need for organisations to focus on third party risk management, email and web security, broader cyber security and user education and training, particularly around Business Email Compromise, Phishing and Email scams / security. The losses from these types of events can be far greater than the investment to protect yourself. #cybersecurity #thirdpartyriskmanagement #businessemailcompromise #cyberrisk https://lnkd.in/gAGrFkSN