Phishing is one of the most popular forms of attack that cybercriminals utilize. No matter whether you are a one-person entrepreneur or a global corporation, the danger of falling victim to a phishing scam is on the rise, and criminals become increasingly more sophisticated and believable in their attempts.
Although many people think that it is only larger organizations that criminals attack, small organizations are just as likely, and 65% of companies in the United States experienced a successful phishing attack in 2019.
How phishing scams can affect your business
If your company experiences a phishing attack, it can have an incredibly damaging impact and even result in your business having to close permanently. A successful attack can cause a number of issues, including:
Damage to your reputation
Any kind of cyberattack on your business can impact your reputation. As consumers and clients hear about data breaches, it puts them off wanting to purchase from, or use, your brand as they worry about how secure their personal or financial information will be with your brand. A 2017 attack on Equifax saw 40% of their credit card holders admit that they no longer trusted the company.
This damage to your brand receives following a phishing attack can be very hard to reverse, so protecting your systems can also help to protect your reputation.
Loss of data
For modern businesses, data is crucial and is one of the most important assets that a company has. A phishing attack can result in you losing access to this information, or having it stolen, which can see your profits decrease and your data capturing having to restart from the beginning.
Disruption of business
Alongside losing data, phishing attacks can also disrupt the day-to-day running of your business. Cybercriminals frequently use malware to infect organizations, which can prevent your employees from accessing your systems and seeing your company unable to resume until it has been removed.
A recent malware attack on several WPP agencies saw them unable to access their systems for a number of days.
How to protect your business from phishing attacks
Utilizing a host of IT security solutions, alongside things such as system endpoint protection and secure email providers, can also help to keep your business safe. However, with 96% of all phishing attacks coming via an email, providing phishing training for employees is essential.
Encourage your colleagues to:
- Look out for red flags such as grammatical errors and typos, as well as scare tactic messaging designed to make you act immediately.
- Be wary of unsolicited emails, particularly those messages that come from an unknown source and require you to click and link or read an attachment to find out more information.
- Regularly change their passwords and not to use the same password for every system.
- Never share any personal or company information with people that are not 100% certain is the intended recipient.
- Keep their internet browser and antivirus software up to date.
- Verify a website’s security by ensuring that the URL begins with https and features a closed lock icon near the address bar.
If you are looking to maximize your IT security solutions and want to ensure your company is as secure as possible, then we offer a wide range of system endpoint protection options for you. To ensure your team are aware of the dangers posed by cybercrime, we also provide in-depth email phishing training and cybersecurity education, ensuring they are able to recognize potential threats to your business.
Want to find out more? Get in touch with our team today!