Email fraud is a challenge because, unlike other cyber-attacks, it does’t use malware attachments or malicious URLs. Instead, cybercriminals use social engineering. And that means impostor emails can slip by traditional security solutions that focus on malicious content or behaviour that exploits technological weaknesses.
For cybercriminals, email fraud offers a low-risk, high-return opportunity. It doesn’t require costly infrastructure. And because attacks often cross international borders, few scammers are prosecuted.
Email fraud targets people. The attacks are designed to trick your people into thinking they’ve received an email from a high-level executive in your organisation such as the CEO or a supplier, partner or co-worker. The sender of the spoofing or imitation email requests action such as transferring money or providing tax records or other sensitive corporate or personal data.
At a glance, nothing about the email seems out of the ordinary. But slight differences, such as in the sender’s name, sender’s address or the reply address, are tell-tale signs of an impostor. The cybercriminals count on their target not taking the time to verify the email.
Training can help your people to recognise the signs of an impostor email and follow best practices to avoid falling for email fraud. Implementing the right procedures and policies can help guide your people to safely handle email requests. And the right technology is essential for detecting and stopping attacks before they reach your people.
Talk to us about how we can help your people be better prepared for email attacks and which technology we can use to protect your business..