Once one cybercriminal finds a technique that works, many others will try their hand at it too. Understanding the methods that cybercriminals use is key to finding cybersecurity measures that can beat them. This means you need to be on the constant lookout for suspicious behavior and the newest protections.

But, unless you’ve fallen victim to a recent cyberattack, there doesn’t seem to be a surefire way to find out exactly what threats you’re up against. That’s why, in this article, we’ll be taking a deep dive into why cybersecurity threats are in a constant state of change, what you need to look out for, and how you can stay one step ahead of malicious cybercriminals.

The Evolving Nature of Cybersecurity Threats

To start, let’s take a look into the history of cybersecurity:

The first virus ever created was named CREEPER. In the 1970s, Robert Thomas, a programmer at BBN Technologies, released the virus onto his co-workers’ computers. As he had no malicious intent, Thomas simply wanted to see how a self-replicating code performed, CREEPER did not harm the functionality of the user’s devices. However, it did show just how quickly such a virus could spread if it was malicious. To counter it, one of the first antivirus programs was developed, named REAPER.

This story highlights some interesting things about the nature of cybersecurity threats and their protections. Usually, cybersecurity measures are on the back foot as they have to be specially designed to respond to a certain kind of threat.

Not to mention, since REAPER was created specifically to target CREEPER, it was useless in the battle against new viruses. This highlights another important aspect of cybersecurity: it quickly becomes outdated as cybercriminals find workarounds and create new threats.

This is why staying up-to-date on cybersecurity threats and trends is a vital step in knowing how to avoid and beat them. The evolving nature of threats turns cybersecurity into a constant battle, where proactive education and adaptability are your best weapons.

Common Signs of Cybersecurity Threats

Although cybersecurity measures are often designed to tackle emerging threats, there are some common signs of malicious behavior that are common across many attacks. Look out for these signs to spot and stop threats. These include:

Unusual Network Traffic: By using router logs, network monitoring software, and diagnostic tools, individuals and businesses can monitor their network traffic. Be on the lookout for unexplained spikes in activity, data transfers, or connections, as these can indicate a breach by cybercriminals looking to steal personal information, disrupt your services, or stop you from using your network altogether.

Phishing Attempts: Any unwanted contact, be it emails, text messages, or phone calls from an unrecognized sender, should be treated with caution. Phishing attempts are common tactics that are used by cybercriminals to convince you to share your information or download malware. These attempts may masquerade as important correspondence from well-known companies or important individuals, and this is known as

Social Engineering: To get you to behave in a certain way, cybercriminals use social engineering. This means they will try to make you angry, scared, delighted, frustrated, or upset so that you will behave as they want you to. Be wary of any communication that is designed to elicit a strong emotional response from you, or that encourages fast action without thinking over what you’re doing.

Unsolicited Software Updates: Widely used and genuine software will have well-publicized updates. If you are prompted to update your software at unusual times or through unusual means, be sure to research and verify that the update is genuine. Cybercriminals often disguise malware and ransomware as genuine software or even anti-virus software.

Unwanted Pop-Ups: Persistent pop-ups have long been the bane of internet users, and most users know to ignore them and cease using the sites that prompt them. However, malicious links can come in many forms, and can sometimes look like genuine ads for e-commerce sites or software. Avoid clicking on ads, and if you want to check out a product, navigate to the site yourself through a secure browser.

Abnormal Account Activity: Be sure to set up two-factor authentication on all your online accounts. This will allow the site to contact you if any usual log-in activity is detected, such as multiple failed log-in attempts, or a log-in from an unusual geographic location. Once you receive one of these notifications, change your password immediately.

How to Stay Up-to-Date on Cybersecurity Threats

Even though there are some common signs of cybersecurity threats, attacks can change and new threats can develop quickly. Though attacks can vary on a case-by-case basis, gathering and sharing information on cybersecurity threats helps form a concerted defense, making the digital sphere a safer place.

Here are the best ways to gather information on the newest cybersecurity threats and trends:

1. Subscribe to Threat Intelligence Feeds

Threat intelligence feeds are streams of information about emerging cybersecurity threats and the vulnerabilities they may prey on. They are often curated by reputable organizations, such as cybersecurity firms or government agencies. Some threat intelligence feeds, such as the U.S. Computer Emergency Readiness Team are free, but others, such as Proofpoint Emerging Threat Intelligence will need to be licensed.

Other popular threat intelligence feeds are FBI InfraGuard and AT&T Alien Labs Open Threat Exchange. Not only will threat intelligence feeds indicate the tactics, techniques, and procedures (TTPs) that cyber criminals use, but they will also provide specific personal data about these criminals.

2. Follow Security News and Blogs

Though they are not as specialized or timely as threat intelligence feeds, security blogs can provide helpful information and insights on recent cybersecurity threats and the best protections. These blogs can give you an overview of global cybersecurity measures and highlight the most dangerous threats you should look out for.

Popular cybersecurity blogs are krebsonsecurity, curated by Brian Krebs, an ex-cybersecurity journalist for the Washington Post, Darkreading, a global news and information portal that offers articles and analyses of various cybersecurity attacks, and The Hacker News, which offers breaking cybersecurity news.

3. Attend Conferences and Webinars

Cybersecurity companies often host conferences and webinars that are free to attend or that you can purchase tickets to. These events bring together cybersecurity professionals, researchers, and industry leaders who share up-to-date information on emerging threats based on real-world case studies. Many even offer hands-on training so you can develop practical cybersecurity skills.

Popular cybersecurity conferences are SecureWorld, a touring conference that operates both online and in-person, and Black Hat USA, an annual conference that offers training and briefings for those interested in perfecting their cybersecurity.

4. Enroll in Cybersecurity Courses

If you want to find out about recent threats and learn up-to-date defense strategies, enrolling in a cybersecurity course is a good idea. Many organizations offer free or paid training courses and certifications for beginners, or for those who want to pursue a career in cybersecurity.

If you just want to find out about personal cybersecurity, some popular courses are Khan Academy’s Internet Safety course and Heimdal’s Cybersecurity for Beginners. However, if you want to dive deeper into cybersecurity practices, Harvard University’s Cybersecurity: Managing Risk in the Information Age course, and NYU’s Introduction to Cyber Security Specialization are informative options.

5. Find Threat Reports

Multiple cybersecurity organizations and agencies release annual reports containing comprehensive analyses and statistics relating to various aspects of cybersecurity. They are easy to understand and provide actionable advice for everyone, from cybersecurity professionals to individuals wanting to keep themselves safe.

Some of the best threat reports include Verizon’s Data Breach Investigations Report (DBIR), which provides insights into data breach patterns, tactics, and recent trends, and the Cisco Cybersecurity Reports series, which analyzes a huge variety of cybersecurity trends and best practices for intelligence and protection.

6. Employ a Cybersecurity Professional

If you run a business, cybersecurity is all the more important, as you need to protect your employees, your customers, and your business’s data. Employing a cybersecurity professional who will do all of the above will ensure your business is always up-to-date on threats and trends.

As well as having a cybersecurity expert on your team, it’s worth enlisting a third-party cybersecurity company or organization to run an audit. This will help highlight any weak points in your business’s security protocols and suggest changes based on the most recent information that can keep you and your business safe.

7. Follow Cybersecurity Best Practices 

Even though some advanced cybersecurity threats require specialized protections, there are a lot of tried-and-tested best practices that can prevent you from falling victim to a range of attacks. These defenses include visiting secure sites, sites with a padlock in the URL bar and ‘HTTPS’ protocols, changing your passwords every 3-6 months and never using the same password twice, ignoring communication from an unrecognized sender and blocking these senders, updating software and hardware as and when updates are released, and using a VPN.

Conclusion

In the ever-evolving battle between cybersecurity attacks and protections, staying up-to-date on the latest threats and trends is your best defense. Unwavering vigilance and consistent adaptation benefit not only your own cybersecurity but also the security of the networks, businesses, and organizations you are a part of.

Recognizing the telltale signs of a cyberattack can help you detect and defend against potential cybersecurity breaches before the damage is done. However, as cybersecurity threats are constantly evolving to stay one step ahead of security precautions, knowing common trends isn’t always enough.

By engaging with cybersecurity organizations and government agencies, you can gain insights into the most recent tactics employed by cybercriminals. Subscribing to intelligence threat feeds and security blogs, scrutinizing threat reports, enrolling in cybersecurity courses, and seeking help from cybersecurity professionals are all sound ways to ensure your cybersecurity knowledge is top-notch.

By staying at the forefront of cybersecurity information, you can empower and protect yourself from the newest threats and trends. Committing to your cybersecurity means you can navigate the ever-changing digital realm with peace of mind.

Sources

• https://www.forbes.com/sites/forbesbusinesscouncil/2023/08/14/the-evolution-of-cybersecurity-and-how-businesses-can-prepare-for-the-future/
• https://www.codecademy.com/article/evolution-of-cybersecurity
• https://travasecurity.com/learn-with-trava/blog/the-evolution-of-cybersecurity-from-creepers-to-credit-cards
• https://www.esds.co.in/blog/signs-of-cyber-attack-and-how-to-respond-to-them/
• https://www.wavex.co.uk/top-16-warning-signs-that-could-indicate-a-cyber-breach/
• https://leaf-it.com/10-ways-prevent-cyber-attacks/
• https://knowledge.medicusit.com/10-types-of-cyber-attacks-and-their-telltale-signs
• https://www.linkedin.com/advice/3/how-do-you-keep-up-latest-cybersecurity-trends
• https://securityintelligence.com/how-to-stay-up-to-date-on-security-trends/
• https://www.esecurityplanet.com/products/threat-intelligence-feeds/
• https://anteantech.com/how-to-stay-up-to-date-with-cyber-security/

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We all know the standard cybersecurity tips - change passwords regularly, avoid suspicious links, don’t answer emails promising you billions of dollars, etc. But online fraudsters are constantly evolving with each new cyber-security measure. As they become increasingly sophisticated in their methods, it’s up to us to improve our cyber-security and protect ourselves from fraud.

In this post, we’ll detail the warning signs of fraud and scams that you should look out for when using the internet, little-known but effective cybersecurity tips, and exactly how you can avoid falling victim to common online fraud.

Common Types of Online Fraud and How to Prevent Them

There are countless scams that fraudsters undertake, with the aim of getting anything from your account passwords to your life savings, or even ruining your personal or professional reputation. Knowing about the kinds of frauds that are out there can help you spot a scammer from the very first time they contact you.

Here are some of the most commonly used and harmful online scams that you should look out for:

1. Online Shopping Scams

According to the FTC’s Consumer Sentinel Network, in 2022 online shopping scams and frauds were the number one cause of monetary loss in every age group. Using enticing ads and fake websites, fraudsters can effectively pose as genuine online stores. These stores often look genuine, with very few obvious red flags. Once you’ve made your ‘purchase’, the fraudsters have your money and your payment details.

How to Spot: A new store with prices that are unbelievably low, no privacy policy, and a necessary payment to get a voucher or deal may be an online shopping scam. Online shopping scams also tend to capitalize on holidays such as Christmas and Valentine’s Day or offer merchandise for a current and popular movie or artist.

Prevention Tips: Although it’s nice to patronize small businesses, this can lead unsuspecting victims to be scammed. Rather than clicking on a link in an ad, navigate to the store using your web browser. If you’re suspicious, check out reviews on a third-party site. Finally, if the site asks you to create an account, use a strong and unique password. If in doubt, it’s always better to lose out on a potentially fraudulent product or service, rather than lose your money.

2. Imposter Scams

In 2021, 17.2% of all reported frauds were impostor scams, making them the second most reported fraud that year. These frauds are so-called because the scammer will approach you and solicit details or money by pretending to be someone else. This is a common tactic used in a number of other fraud attempts, too. The most common impostor scams include romance, tech-support, and investment scams, however, scammers may also pose as your family members or other vulnerable individuals in need.

How to Spot: If you receive a scam call, email, or text from an individual posing as a company you do business with, your bank, your family, or a government agency such as the IRS or Medicare, it will usually come with a sense of urgency. For example, they may tell you your account has been hacked or funds have been stolen from you. Be wary of any attempt to solicit your money or details over the phone, and any attempt to get you to pay up faster than you’re comfortable with.

Prevention Tips: Never give out personal or financial details over email or on the phone. Never pay for a ‘prize’ or bonus up front, and never send payment via pre-paid cards or gift cards. If the potential scammer has called you, inform the caller that you will hang up and call them back on the customer service line listed on that company’s or organization’s official site. Any genuine caller will be more than happy for you to do this.

3. Investment Scams

Investment scams will involve a fraudster contacting you, seemingly out of nowhere, to invest in a new company or product. These investment opportunities are fake, and once the scammer has your ‘investment’, they will likely cease all contact.

How to Spot: Unsolicited emails, calls, or texts from an individual or business with very little information on search engines asking you to invest in something should always be approached with caution. Any promise of definite profit or success, or attempts to rush payment from you can also be warning signs.

Prevention Tips: Investing can be a great way to make some passive profit. However, you can prevent yourself from becoming a victim of investment scams by calling FINRA at (800) 289-9999 and checking that the individual is licensed. You should also check that the investment opportunity is registered by calling your state’s securities regulator.

4. Loan Scams

This type of advanced-fee fraud is becoming increasingly common. Scammers will contact you with an ‘approved’ loan, which will be transferred to you on receipt of a hefty upfront fee. Once they have this fee, scammers will cease all contact. If you’ve applied for a loan online, you may be more susceptible to loan fraud.

How to Spot: Any request to quickly pay an upfront fee in return for a larger sum of money, especially through unusual methods such as gift cards or vouchers, could be an attempt at loan fraud. A genuine loan service will not contact you up front with an offer, and will never ask for fees to be paid before you receive the loan.

Prevention Tips: Aside from the usual financial safety tips of checking your bank account and statement regularly, other ways to prevent loan scams include avoiding sites that guarantee a loan before you have given them your details. Find out whether lenders are registered by contacting your state’s bank regulator.

5. Romance Scams

Another kind of impostor fraud is, romance scammers will create a fake online identity for ‘catfish’ victims by providing them with attention and affection. Once these scammers have gained your trust, they may ask for gifts, money, or even personal details such as your social security number or passport.

How to Spot: These impostors will have fake or very few images on their dating profiles. Romance scammers may also use ‘love-bombing’ to secure your trust. They will praise and compliment you, quickly deeming what you have together as special to emotionally manipulate you. Any attempt to get you to send personal or financial details, gifts, or money to someone you have never met should be regarded with extreme caution.

Prevention Tips: Finding love on the internet is one of the joys of the 21st century, so there’s no need to avoid trusted dating sites. However, you should be on the lookout for fake profiles. Be mindful of what you post on your profile, as these scammers will likely do extensive research to find ways they can manipulate you. If in doubt, reverse image search the pictures they provide you. Never send inappropriate photos of yourself or your financial details to someone whose identity you have not verified.

6. Job Scams

Employment fraud happens when a scammer poses as a head-hunter, or recruitment agency, or places a fake ad on job sites or forums. By interviewing you for a fake, and too-good-to-be-true, position, the scammers solicit personal details and eventually money from you.

How to Spot: Usually these scammers will approach you for a job you have not applied for. The advertisement may be vague and poorly written. They will likely ask to interview you over instant message, never in person or over the phone.

Prevention Tips: Research any company that offers you a position with them, especially if the pay does not line up with your experience or expertise. If your research comes up lacking, it is likely a fake company/job. Scrutinize any company email addresses or URLs for slight misspellings or mistakes. Call the genuine company on the number listed on their site, and check that the potential scammer actually works there.

7. Tech Support Scams

Yet another common impostor scam, these are some of the most harmful online frauds, especially among those who are not digitally literate. The fraudster will pose as an employee of a tech company such as Apple, Microsoft, or your chosen anti-virus software. They will inform you there is an issue that can only be rectified by giving the scammer control of your device or sending them an advanced fee.

How to Spot: If there is genuinely a problem with your computer, it is incredibly unlikely that the manufacturer will contact you by phone, email, or text. Similarly, if you receive a security pop-up, if it is a genuine article it will simply be a warning, and will not solicit you to click links or call a number. Unprofessional speech or writing may also be a warning sign that you are in contact with a scammer.

Prevention Tips: Never follow links or call numbers that appear in pop-ups. Never download any software that is sent to you by an unsolicited caller and never consent for them to take control of your device. If in doubt, call the genuine company that the fraudster is posing as using the phone number on their website.

8. Spam Email Scams

Finally, spam email fraud attempts are something many of us are familiar with, but they still catch people out regularly. These malicious emails are often attempts to get you to divulge your personal and financial information in return for a prize or to avoid a crisis. They may impersonate an individual or popular company to get you to click a link. In the worst-case scenario, this link may infect your device with malware.

How to Spot: Spam emails usually come from senders you have never come into contact with before. Their email addresses may be long strings of seemingly random letters or numbers, or set up with less-than-reputable email providers. If the email contains links, or attachments, or has an urgent or scary tone, it is likely a spam email.

Prevention Tips: Make sure your email provider has a dedicated spam folder that can filter out any suspicious emails or phishing attempts. If ever a suspicious email makes its way into your main inbox, mark it as spam and block the sender immediately. Never click on links or open attachments in emails unless they are from trusted senders whom you have consented to receive emails from.

General Cyber-Security Tips

 Now that you know how to prevent fraud, here are some general cyber-security tips to add another level of protection online.

Use Secure Sites - If a website doesn’t have HTTPS at the start of its URL, take extra care to guard your data, or avoid the site entirely. This ‘S’ stands for secure, and means any data sent between your browser and the site’s server is fully encrypted and inaccessible to fraudsters.

Use a VPN - This tip is especially important if you regularly use public wifi. A VPN will protect your internet traffic and it’s worth using one at all times if possible.

Block and Report - Blocking the sender is an immediate way to stop possible fraud attempts. Whether it be social media messages, phone calls, text messages, or emails, simply block the potential scammer. If possible, report the threat as well.

Protect Your Email - Your personal email is likely what you use for almost every site you have an account with. This is why it’s so valuable to fraudsters looking to know more about you. Change your email password once every 3 months, and use two-factor authentication.

Sources

• https://www.ic3.gov/Media/PDF/AnnualReport/2020_IC3Report.pdf
• https://public.tableau.com/app/profile/federal.trade.commission/viz/AgeandFraud/Infographic
• https://www.ncsc.gov.uk/collection/top-tips-for-staying-secure-online
• https://www.actionfraud.police.uk/a-z-of-fraud/online-fraud
• https://www.helpnetsecurity.com/2010/11/16/the-12-most-dangerous-online-scams/
• https://www.commbank.com.au/articles/security/how-to-avoid-online-shopping-scams.html
• https://www.finra.org/investors/protect-your-money/ask-and-check
• https://www.aura.com/learn/loan-fraud
• https://www.fbi.gov/how-we-can-help-you/safety-resources/scams-and-safety/common-scams-and-crimes/romance-scams
• https://www.actionfraud.police.uk/a-z-of-fraud/employment-fraud
• https://www.aarp.org/money/scams-fraud/info-2019/tech-support.html
• https://consumer.ftc.gov/articles/how-recognize-and-avoid-phishing-scams
• https://www.dhs.gov/blue-campaign/online-safety

The post Cybersecurity and Fraud Prevention Tips to Keep You Safe Online appeared first on MoneyThumb.

A robust cybersecurity strategy, based on your hardware, software, and data requirements, will help you stay one step ahead. Not only will cybersecurity practices protect your data if an attack does take place, but they can also give you peace of mind when using your devices in everyday life.

In this article, we’ll be delving into the types of cyberattacks you may come up against, some basic ground rules for cybersecurity that everyone should follow, and the best cybersecurity practices based on your needs as an individual or business owner. Let’s get started…

Types of Cyberattack

The methods cybercriminals use are constantly changing to get the best of cybersecurity practices. However, there are some common cyberattacks you may fall victim to. Understanding these attacks can help you recognize when you’re being targeted, and better select which cybersecurity practices you should implement first. Some common cyberattacks are:

1. Phishing

One of the most prevalent cyberattacks is phishing. If you’ve been using the internet for a while, you’ve likely already come up against phishing attempts. By posing as a legitimate entity through emails, texts, phone calls, or websites, cybercriminals seek to trick you into revealing sensitive information like passwords, addresses or financial details.

2. Malware

Malware is an umbrella term that is short for malicious software. Cybercriminals seek to trick you into downloading malware through various means. This software is designed to infiltrate and damage your data and devices. Some of the most common forms of malware are spyware, which can allow cybercriminals to see exactly what actions are taking place on your device, and ransomware, which can lock you out of your device until a ransom is paid.

3. Man-in-the-Middle

Businesses are the most likely victims of man-in-the-middle attacks. Cybercriminals intercept and alter communication between two parties in the hopes of eavesdropping, manipulating data, and eventually stealing sensitive information. This information can then be used for blackmail or other malicious purposes.

4. Denial of Service

Denial of Service, or DoS attacks, aim to disrupt how a website, service, or entire network functions by overwhelming it with traffic from external sources. This can render it useless to users, and cost businesses their profits, time, and resources needed to fix the damage caused by the attack.

5. Social Engineering and Insider Attacks

Cyberattacks that utilize social engineering involve manipulating an individual to gain access to their sensitive data and devices. This is much easier to do when an ‘insider’ is involved to assist with emotional manipulation. Insider attacks are also common in the business place, wherein an individual with access to the organization’s network exposes sensitive data to attackers.

6. Zero Day Exploits

These cyberattacks seek to exploit insecurities and holes in new software before an update or patch is released. Zero Day Exploits are particularly dangerous for individuals and businesses alike because, without help from developers, there’s not much you can do to protect yourself against them.

7. Advanced Persistent Threats

Advanced Persistent Threats or ATPs occur over a long period. Cybercriminals gain access to a business or organization’s network and attempt to remain undetected while they extract data and other sensitive information. ATPs may involve repeated attacks and usually go unnoticed for some time.

General Cybersecurity Tips

Though there are many kinds of cyberattacks, there is also a multitude of cybersecurity practices that can protect every device, from networks at the Pentagon right down to your smartwatch. Here are a few general cybersecurity tips you should always try and adhere to:

• Keep Software Up to Date

When software becomes open to cybersecurity attacks, developers are proactive in releasing updates and patches to close these holes and protect users. Failing to update your software can leave you without the latest security, so update your software as and when upgrades are released.

• Use Strong Passwords

Passwords that use a combination of capital letters, numbers and special characters are best. But sometimes these long strings of random letters can be hard to remember. An encrypted password manager is an easy way to keep track of passwords, and this software will remind you when it’s time for a change. Best practice indicates you should change your passwords every 3-6 months and never use the same password for two or more sites.

• Watch What You Share

You’d be surprised what unassuming information can give cybercriminals the upper hand. Even if you’re not posting sensitive company secrets online, posting about a recent birth, vacation, birthday, wedding, or family issue can give attackers enough information to launch a social engineering attack against you. Keep social media sharing to a minimum to ensure you stay as protected as possible.

• Enable Two-Factor Authentication

Though it’s a little more time-consuming than simply inputting your password and logging in, two-factor authentication (2FA) can weed out a multitude of attacks on your accounts. 2FA requires you to use another secure device or account to confirm a log-in, and this second form of verification adds an often unbeatable layer of security.

• Educate Yourself

Finally, the best cybersecurity practice is to learn the warning signs of cyberattacks and how you can avoid and respond to them. Many of the most basic phishing or social engineering attempts will follow the same pattern, so watching out for misspelled words, suspicious email addresses, urgent requests that play on your emotions, or unsolicited contact, in general, can prevent you from falling victim to low-level cyberattacks.

Cybersecurity Practices for Individuals

Though there is a large overlap between what individuals and businesses should do to protect themselves from cyberattacks, the best practices to secure your devices may vary slightly. Here are a few cybersecurity practices that individuals should prioritize:

Keep Track of Your Devices and Accounts - Though we use our phones and laptops daily, often we have more devices at risk of attack than we think. Any device that is connected to your internet should be secured, including home assistants, games consoles, speakers, gym equipment, security cameras, and even your car. On top of this, you likely have a myriad of accounts on various websites. Keeping track of these and closing those that you no longer use can help you stay secure and, in the event of an attack, determine where the threat originated.

Secure Your Internet Connection - An easy way to ensure your devices are protected when you’re at home is by securing your internet connection. Ensure that your home WiFi network uses WPA2 or WPA3 encryption protocols. As the administrator, you should log into your WiFi settings and change the standard password regularly. Also, disable remote access to these settings to ensure no third parties can change them. Avoid using unsecured or public WiFi and if you must do so, utilize a VPN (Virtual Private Network) to ensure your data remains secure.

Perform Regular Data Backups - If your devices are compromised, you could lose sensitive information and other important data such as your photos and documents. Purchasing a remote hard drive or USB stick remains one of the most secure ways to store your backups. Ensure these devices are encrypted or password protected, and store them in a safe place in your home. If your device does come under attack, you’ll have access to everything you may have lost, and will also be more equipped to deal with the attack as you’ll know exactly what was taken.

Change Your Privacy Settings - It’s good practice to limit the amount of information available about yourself to potential malicious forces online. Many cybercriminals will comb social media to select the easiest and most vulnerable targets and to gain information that can be used to manipulate or blackmail them. Ensure that your settings on social media and your email are adjusted so that your profiles are only visible to those who you approve. You should also use an email that has a built-in spam filter to get rid of any phishing attempts before they appear in your inbox.

Use Secure Sites - When browsing the internet, ensure that every site you visit has an SSL certificate, usually denoted by a lock icon before the hyperlink. This ensures that all of the data sent between your browser and the site’s server is encrypted and protected from third-party access. On top of this, when purchasing from online stores, check that the payment process is PCI-DDS compliant, review their privacy policy, and check for any relevant site seals that confirm the website has been verified to meet security standards by a reputable agency. If you regularly shop online, monitor your financial statements to find any suspect charges early.

Cybersecurity Practices for Businesses

Cybercriminals that target businesses will likely be slightly more sophisticated than those who attack individuals. This is why, as well as those methods listed above, most businesses will need to take extra steps to ensure cybersecurity. Some of these may include:

Employee Training - With so many links in the chain, businesses not only need to ensure the security of their networks but the individual security of every employee and device they use. Regular employee training regarding best practices and internal policies will raise awareness of the importance of cybersecurity and the warning signs they may need to spot. While software updates and password resets will be handled en masse or by an IT team, training employees can help remove the human element that cybercriminals often rely on when targeting businesses.

Incident Response Planning - As well as policies relating to cybersecurity, your business should have a clear and thorough incident response plan in place. This plan will detail the steps that need to be taken to identify a threat, analyze and minimize the damage to data and other sensitive information, and rectify the issue as quickly and with as few resources as possible. You may also like to test these plans if other employees are involved and make changes regularly to keep up with the developing nature of cyberattacks.

Third-Party Security Assessments - It’s not just your intranet and employees you need to worry about when it comes to security breaches. Any company you work with from suppliers to couriers will have access to your business’s sensitive data. This is why it’s good practice to evaluate any company you intend to partner with to make sure their security practices are up to standard. Implementing contractual obligations for security and performing regular security audits are sound ways to do this, and can help identify vulnerabilities and mitigate risks.

Data Encryption and Access Controls - As standard, all data that is stored on your network or transferred through it should be encrypted. A business-wide VPN is a simple way to do this, as well as protocols regarding where and when an employee can use their work devices or access materials. On that note, implementing strong access controls based on what roles employees hold within the company can help avoid unwarranted access. On top of this, user authentication protocols should always be in place.

Network Security Measures - There is no end to the amount of protection you can install and implement on your business’s network. VPNs, as mentioned, are a great choice and should be standard practice alongside firewalls. Cloud data storage and backups can encrypt your business, employee, and customer data, keeping it safe and easily retrievable on an external server should a cyberattack take place through your intranet. Another robust network security measure is intrusion detection software, which highlights any unusual or unauthorized access as and when it takes place.

In Conclusion…

Cyberattacks come in many forms and are constantly evolving. Individuals and businesses can fall victim to a wide range of cyberattacks and suffer large losses of sensitive data and financial information as a result. However, several simple security practices can prevent cyberattacks and protect your devices.

General cybersecurity measures like password protection, up-to-date software, and mindfulness on social media, email, and other sites should be practiced as standard. For individuals, updated privacy settings, strong and secure WiFi and firewalls, and data backups can mitigate the risks of cyberattacks and protect your data should an attack occur.

Businesses have slightly different needs when it comes to cybersecurity. If you’re a business owner, company-wide VPNs, employee training, incident response planning, and third-party security assessments should all be implemented. Data encryption, access controls, and other security measures are crucial to maintaining the integrity of your operations.

Ultimately, educating yourself about the various kinds of cyberattacks, and what you can do to spot and stop them, is an ongoing obligation. Stay informed, adopt a proactive approach, and regularly assess your cybersecurity so you can navigate the digital landscape with confidence.

Sources

• https://www.crowdstrike.com/cybersecurity-101/cyberattacks/most-common-types-of-cyberattacks/
• https://www.cisco.com/c/en_uk/products/security/common-cyberattacks.html
• https://www.lepide.com/blog/the-15-most-common-types-of-cyber-attacks/
• https://www.cisa.gov/topics/cybersecurity-best-practices
• https://www.ekransystem.com/en/blog/best-cyber-security-practices
• https://www.titanfile.com/blog/cyber-security-tips-best-practices/
• https://leaf-it.com/10-ways-prevent-cyber-attacks/
• https://www.moh.gov.sg/licensing-and-regulation/cybersecurity-for-healthcare-providers/common-signs-of-a-cyber-attack
• https://www.cisco.com/c/dam/m/en_ca/business-transformation/pdf/5-ways-to-detect-a-cyber-attack.pdf
• https://southeastcyber.police.uk/cyber-advice-individuals
• https://cipher.com/blog/10-personal-cyber-security-tips-cyberaware/
• https://www.morganstanley.com/articles/personal-cybersecurity
• https://www.kaspersky.com/resource-center/preemptive-safety/small-business-cyber-security

The post Best Cybersecurity Practices That Will Help Avoid Cyberattacks appeared first on MoneyThumb.

However, this reliance on our devices provides hackers, scammers, and criminals with ever more opportunities to gain access to our personal information, finances, and even our workplace data. The more sophisticated our devices’ firewalls and anti-viruses become at preventing these attacks, the better the hackers get.

But where did cybersecurity start and how have the tried and tested methods of prevention come to be? We can learn more about the best tools and techniques for online safety, as well as the changing nature of cybersecurity, by exploring its development. In this article, we’ll take a look at the history of cybersecurity and how experts believe building upon old systems can still protect us today.

The History of Cybersecurity

Let’s take a look at the origins of cybersecurity and how responses to past threats have shaped today’s preventative landscape.

Creeper and Reaper

Ironically, the malware wasn’t created with malicious intent. Instead, it was an almost-accidental discovery by BBN Technologies employee Bob Thomas. In 1971, while attempting to create a system that would allow multiple users to ‘share’ the resources of a single CPU, known as a time-sharing system, Thomas discovered that a computer program could move through a network of computers and leave a trail.

Interested in the potential for a self-replicating program and communication between computers, Thomas designed the malware to move through time-sharing terminals on the ARPA network. He named the malware ‘Creeper’, and in a move that would inspire many a hacker movie in the years since, programmed Creeper to print a message from all infected devices; ‘I’M THE CREEPER: CATCH ME IF YOU CAN.’

While Thomas never intended to do damage, and while Creeper never acted maliciously beyond annoying ARPANet’s users, it did highlight the importance of catching and stopping such malware. Creeper met its match with Thomas’s research colleague, Ray Tomlinson, creator of email. Named Reaper and designed to delete Creeper, Tomlinson developed the first actual self-replicating program and anti-virus software.

The Morris Worm and Commercial Anti-Virus

Almost 20 years after Reaper, commercial anti-virus programs were the newest, and by many accounts, the first instances of coordinated cybersecurity made available to the masses. Andreas Lüning and Kai Figge, working to protect the Atari ST personal computers, created the Ultimate Virus Killer. In the same year, NOD antivirus came into use and McAfee was founded with the release of VirusScan.

However, despite more people installing anti-virus on their personal and work computers, the malware was about to evolve yet again. In 1988, graduate Robert Tappan Morris was intrigued by viruses and wanted to create his own. Looking to impress MIT, he released his worm, which exploited weak passwords, onto their network. In a mistaken move, Morris tried to one-up system administrators by instructing the virus to replicate itself. As a result, some computers were infected several times, slowing them down until they were barely usable.

Although an impressive evolution for malware, the Morris Worm landed its creator with a fine of $10,050 and 400 hours of community service in violation of the Computer Fraud and Abuse Act. People quickly became aware of how important strong passwords were to protect their information and hardware. It also caused many defense agencies to rally for the creation of a central network that could prevent and remedy coordinated attacks like the Morris Worm. This was realized with the establishment of CERT/CC in late 1988.

The Dawn of the Information Age

The internet had become a part of millions of lives by the beginning of the 1990s. An unprecedented amount of data was available on the new world wide web. This also meant that organized criminals could gain access to valuable information with historic ease, using the techniques that had been pioneered by researchers back in the 70s.

Attacks and scam attempts were more frequent than ever, and commercial anti-viruses quickly kicked up a gear to protect the average citizen’s data. But, in 1998, the most sophisticated cyberattack yet seen was launched on the Department of Defense. The subsequent investigation, named ‘Solar Sunrise’, involved the CIA, FBI, NSA, NASA, and DOJ, who suspected Iraqi information warfare. Instead, the attack was launched by three high school students.

The Solar Sunrise incident made it clear how important constant cyber vigilance was to everyone from the individual in their own homes, to governments protecting entire populations, and how cybercrime could be used to steal national secrets and incite information warfare. Improved intrusion detection and early warning systems for cyberattacks were pioneered by the National Infrastructure Protection Center and quickly filtered down to the masses.

The New Millennium

The battle between cyberattacks and cybersecurity became a vicious cycle, as both evolved to keep up with the other. The new millennium saw the number of online attacks using viruses, malware, scams, and frauds skyrocket. In response, new laws were created across the world to criminalize these actions and ensure victims were adequately compensated.

As the 2010s progressed, the Blaster Worm and SQL Slammer caused widespread disruption on both home-based and industrial computer networks, while governments battled through state-sponsored cyberattacks like the Stuxnet Worm and Operation Aurora. In 2013, the Edward Snowden leaks brought increasing attention to government surveillance, as well as to the value of our information and data being stored and shared online.

In the decade since, the growing number of devices and an exponential amount of data being shared on the internet have made clear the need for advanced preventative cybersecurity, from the highest echelons of government to the smallest smartwatch. Nowadays, many individuals receive cybersecurity education as part of ICT in schools, and attack prevention software is standard on all operating systems. But, as the cat-and-mouse game between attacks and security continues, what does the future of cybersecurity look like?

The Future of Cybersecurity

Throughout the last 40 years, it’s become clear that anyone can fall victim to a cyberattack. However, how we protect ourselves is much the same no matter how valuable our data is. This united front is all-important according to Brad Smith, President and Chief Legal Officer at Microsoft:

“We are witnessing a rise of large-scale attacks on critical infrastructure. Governments, the private sector, and individuals all must play a part in strengthening our ability to safeguard the digital world we depend on.”

No matter if we’re at home or acting as an employee, we all have a shared responsibility to protect our devices and prevent viruses, malware, and online fraud attempts from spreading through our networks. Analyzing disruptive attacks such as the WannaCry ransomware of 2017, it becomes clear just how important one device can be in the spread of malware to millions of others. A coordinated prevention effort and understanding of where we sit as individuals in the Internet of Things will be key to protecting our data at large.

However, Kevin Brown, former Managing Director of BT Security in the UK, provides a slightly gloomier outlook on the future of cybersecurity. As we come together to avoid falling victim to attacks, and in the process protect our networks and each other, cyber-criminals are expected to do the same.

“We’re in a period of evolution. My prognosis is that we’re going to start seeing a clustering of cybercrime, with particular criminal expertise focusing on different aspects of attacks. When it comes to thwarting that and getting the right level of intelligence to deal with it, we’re a long way from that yet.”

These groups of cybercriminals do and will work as their own organizations, with certain programmers and hackers holding specialisms in certain areas. Far from being teenagers in their bedrooms or researchers creating self-replicating programs, these sophisticated organizations will work together to launch larger and more devastating attacks, profiting off them and then wiping their presence from the affected devices to avoid repercussions. By joining together, cybercriminals are expediting their evolution, and according to experts, individual action will do little to stop this.

Fortunately, another group of experts believes individuals won’t have to act. Mark Orlando, CTO of Raytheon Cyber Security, which specializes in large-scale cybersecurity audits through simulated attacks, believes we aren’t too far away from computers being able to protect themselves.

"In the coming years, we will see more automation and AI applied to security solutions so that human analysts can focus their efforts on strategic, complex threats...In the cyber arms race, we need every advantage we can get and that means arming ourselves with innovative technologies."

AI has several applications in several industries, but when it comes to cybersecurity, machine learning may be able to detect anomalies caused by malware, alert human security administrators, initiate security protocols on individual devices and networks, analyze the behavior of malware, hackers, and fraudsters to provide detailed reports and aid in their capture. Similarly, with a combination of AI and biometric data, device security will become much harder to bypass for imposters or robots.

Of course, this poses the problem that, in using AI for security, hackers and cybercriminals will use it for malicious means, too. However, with a synthesis of human intuition and experience, alongside AI’s software-based capabilities, predictive analysis, and subsequent security insights, it may just be enough to ensure we can stay one step ahead of cyberattacks.

In Conclusion

The history of cyberattacks and cybersecurity are one and the same. By understanding this history, we can stay on top of the near-constant need for improved preventative measures. The importance of protecting our personal information, financial data, and networks only grows as we become increasingly reliant on technology.

The future of cybersecurity, according to experts, will require us to collaborate with best practices used by security agencies and governments. Potential advancements in AI and automation will help us stay ahead of cybercriminals, but we certainly haven’t seen the limits of the damage that cybercriminals can do.

While there are challenges ahead, with a united and proactive approach, internet users across the globe can strengthen our ability to safeguard the digital world we depend on, ensuring a secure future for all.

Sources

• https://www.crowdstrike.com/cybersecurity-101/cyberattacks/most-common-types-of-cyberattacks/
• https://www.techtarget.com/searchsecurity/CyberResiliency/5-Key-Elements-of-a-Modern-Cybersecurity-Framework
• https://medium.com/cybernoobing/the-people-that-put-the-cyber-in-cyber-security-cyber-noobing-806e4d00519a
• https://www.lifewire.com/brief-history-of-malware
• https://en.wikipedia.org/wiki/Morris_worm
• https://nsarchive.gwu.edu/briefing-book/cyber-vault/2023-02-28/solar-sunrise-after-25-years-are-we-25-years-wiser
• https://cybermagazine.com/cyber-security/history-cybersecurity
• https://www.siliconrepublic.com/enterprise/bt-eagle-i-cyber-security-platform
• https://www.latimes.com/world/europe/la-fg-europe-computer-virus-20170514-story.html
• https://www.washingtonpost.com/podcasts/post-live/brad-smith-on-cybersecurity-and-microsofts-role-in-aiding-ukraine-against-russian-cyberattacks/

The post The History of Cybersecurity and What the Future Holds, According to Experts appeared first on MoneyThumb.

Since scammers are evolving, the methods you need to protect yourself against their actions also have to evolve. In this post, we’ll take you through the ways technology has upped the game for scammers, common techniques scammers use, and exactly how you can prevent them from getting their hands on your money and data.

 How Do Scammers Use Technology?

 Understanding how you might be targeted is key to preventing scams. But scammers use technology in some unexpected ways, so it’s always best to be on your guard. Here are some examples of technology that has upped the game for scammers:

 Social Media - From Facebook to Instagram, Twitter to dating apps, and even forums, social media has made it so much easier to connect to others. However, this means it’s also much easier for scammers to find and reach out to potential victims. Scammers also know those who use social media regularly or for work are much more likely to engage with messages from those they don’t personally know.  In fact, according to legaljobs.io, 91% of those approached by scammers on social media, opened or responded to the initial message. Fifty-three percent ended up losing money as a result of this.

Data Leaks - As well as social media, another way scammers can find sensitive information about you is through data leaks. Chances are, if you’re an internet user, you have quite a few accounts registered with different sites. While this is a necessary part of using the internet, these sites often suffer data leaks. Using software that can harvest information from these datasets, scammers can find your email, phone numbers, and even passwords. This gives them other ways to contact you and more information to trick you with.

Messaging Apps - While phone scams have long since existed, with the help of messaging apps these scams have also evolved. SMS phishing attempts, often called smishing scams, come as a result of scammers finding your phone number. Using sites like WhatsApp that offer end-to-end encryption, it’s much harder to find the identities of those behind these malicious attacks. Scammers may impersonate bank officials, delivery companies, or even close family members. These messages may ask you to click a link where they request your details, or solicit money or passwords from you on the spot.

Technical Support - For many people, technology isn’t as easy to navigate as it is for scammers. By taking advantage of those who are technologically illiterate and more likely to trust someone who knows what they’re doing, scammers will illicit payment for technical support services. This is usually done by impersonating a staff member of a computer company over the phone. However, some technical support scams are more sinister. Using software that can give them remote control of your computer, scammers can steal your information, leaving you susceptible to further attacks.

Malware and Ransomware - While scammers usually trick victims into giving them money, hackers gain access to your accounts or devices through your WiFi or out-of-date software. However, scamming and hacking do overlap, with some hackers using the information they’ve gained through hacks to scam you. Also, some scammers will send phishing emails with attachments that can infect your computer with ransomware after a single click. This ransomware locks you out of your device and demands money, a ransom, to regain access.

 How Are Scammers Evolving?

 While some scammers will scour data leaks and a few will use hacking techniques, there’s no doubt that technology has made it easier for them. Since scammers made their way online, various tips and tricks have been spread to improve awareness and prevent successful scams. For example, we all know that those spam emails promising billions of dollars by wire transfer are too good to be true. However, as these scams stop working, scammers search for the next hook. The methods they use evolve, and it creates a vicious circle. As preventative measures improve, so do the scammers.

 Warning Signs of a Scam

Though scammers use a variety of techniques, there are some common red flags that you should look out for. These include:

• Unsolicited Messages - Messages that come from any sender you don’t know, however intriguing, may be more harmful than they seem. These messages should be left unopened with the sender blocked. If you receive a message from someone you know that seems suspicious, make sure to check their account and double-check through other means.
• Random Links - These low-effort scams are still surprisingly popular. Links in messages or emails from senders you do not recognize can carry harmful malware or phishing for your sensitive information. Make sure to use caution when following links sent to you, and never enter your details on any site sent to you in a message.
• Emotional Appeals - Scammers know you’re more likely to act irrationally if you’re over-emotional. They may try to scare you, anger you, worry you, and stress you out, or they might get you excited over promises of money. Be aware of attempts at emotional manipulation, and if you’re not sure, take a few minutes to breathe or call someone you trust.
• Requests for Money - Any request for money that is made to you through social media, email, SMS, or over the phone should be regarded with suspicion. Scammers often request that you send them money by purchasing gift cards and giving them the codes. This is so you cannot ask your bank to recall the payment.
• Unreal Promises - While many people are aware of lottery scams, investment scams are some of the most prevalent. Scammers solicit large amounts of money and huge returns are promised. As well as investment scams, job scams with the promise of great employment and high pay are common. These can be harder to spot as scammers create believable profiles and false companies. It’s always best to be wary when you’re giving money or information away.

How to Avoid Technologically Advanced Scammers

Now that you know what to look out for, you can better protect yourself against scammers. However, there are still some more simple ways to prevent yourself from becoming a victim of a scammer in the age of technology.

1. Always Double-Check - If you’re ever suspicious that you may be the target of a scam, it’s best to double-check the information they’ve given you. For example, many impostor scams can be prevented with a simple search of a company name. You can also call many companies and ask them to check an employee’s name.
2. Manage Those Passwords - Regularly changing your passwords is good practice for safety on the internet as it is. However, this action can prevent scammers from accessing your account information. It’s recommended that you change passwords for any site that has your financial information every 3 months. Use a password manager to keep track of all the passwords you’re currently using.
3. Use Secure Sites - Before purchasing from online sites or providing them sensitive information, make sure the site has ‘https’ in the URL and a secure lock sign is displayed in the search bar. This means your data cannot be accessed by scammers and your browsing activity is protected.
4. Scroll Back to the Start - If you’re trying to prevent scams that use information about you, it may be time to check your social media profile. It’s a good idea to read through your posts, captions, and bios, and check your privacy settings to make sure your information is safe. It’s always best to use a private account if you can.
5. VPNs - A VPN is a virtual private network. This tool encrypts traffic when you’re browsing the internet. VPNs are especially useful if you regularly use public WiFi networks, where scammers may have hijacked the connection.
6. Update Your Software - Out-of-date software is dangerous because it may include security systems that are not fit to tackle evolving malware and ransomware. Installing updates is important to receive the necessary security patches. As well as updating apps and protection software regularly, you should update your device operating systems as and when new updates are released.
7. Don’t Respond - Finally, the most basic and yet successful way to avoid falling victim to a scam is to not give scammers the chance. Any messages, emails, texts or calls you receive that seem suspicious should be ignored. In many cases, it’s worth just sending that message to the trash and blocking the sender.

Conclusion

Scammers are constantly upping their game and technology is helping them do it. From social media to fake companies, there are a variety of ways you may be targeted by scammers. As ways of evading scammers improve, so do the scams, so staying vigilant is key. To avoid falling victim to scams, be on the lookout for warning signs like random messages, suspicious links, and requests to send or receive money. Make sure to protect your devices with software updates, secure your sensitive data, and access the internet safely with VPNs.

Sources

https://www.centralbank.net/personal/security/security-news/seven-tips-to-avoid-online-fraud/

https://legaljobs.io/blog/scam-statistics/

https://besedo.com/knowledge-hub/blog/the-evolution-of-online-scams-moderation-methods/

https://www.scamwatch.gov.au/types-of-scams/investments/investment-scams

https://www.doj.state.or.us/wp-content/uploads/2017/06/six_signs.pdf

https://www.texasattorneygeneral.gov/consumer-protection/common-scams

https://www.ag.state.mn.us/consumer/Publications/ModernTechnology.asp

https://www.usa.gov/online-safety

https://support.microsoft.com/en-us/topic/protect-yourself-from-online-scams-and-attacks-0109ae3f-fe61-4262-8dce-2ee3cd43bac7

The post How Technology Has Upped the Game for Scammers and How To Avoid Them appeared first on MoneyThumb.

A Few Techniques Internet Scammers Use to Fool You

1. Emotional Appeals

Scammers will try to appeal to your kind nature, sympathy, protective instincts, or romantic feelings. For example, they may claim to be a family member in an emergency or someone stranded in a foreign country who needs help getting home.

2. Requests for Money

Scammers often ask for money early on in the relationship (often before they have met you face-to-face). They might say it is for airfare or medical expenses for them or a family member.

They might give you excuses for why they need the money and makeup stories that tug at your heartstrings. They might even say they will pay you back once they get home from their trip.

3. Phishing

The scammer sends a legitimate-looking email with a fake problem (like "Your account has been suspended!") and may ask you to click on a link that takes you to a fake website where they can steal your login credentials.

4. Fake Checks

You get a check from someone who wants to pay you for something. They tell you to deposit it in your bank account and then wire part of the money back to them (for whatever made-up reason). The check turns out to be fake and bounces, but the scammer has already gotten the money you sent them!

5. Lottery Winnings

You get an email or letter telling you that you have won a lottery in another country. You have to send them some money so they can process all of the legal documents, and they will wire your winnings into your bank account.

6. Simple Deception

The best deceptions are often simple, which makes them easy to understand. But if you've ever been scammed, you know that the most insidious scams are the ones you can't explain. You know there's something wrong, but you don't know what. And that's exactly how the scammers want you to feel—confused enough to let your guard down but not confused enough to ask for help. Scams don't have to be complicated; they must look complex enough that people are embarrassed to admit they've been scammed.

How to Avoid Internet Fraud in the Age of Advanced Technology

Cybercrime is a global epidemic. The Internet presents a whole host of new opportunities for scams and fraud. Online shopping, social media, and even dating sites are rife with fraudulent activities.

Here are crucial ways you can avoid internet fraud in the age of advanced technology:

Never Respond to an Unsolicited Email Message or Pop-Up Window

Whenever you receive an email message or a pop-up window requesting you to send your personal information, do not reply. You should delete such messages or close pop-up windows without responding.

In many cases, these tactics of scammers are fraudulent and are sent by con artists to trick you into giving away your personal information, which they will use for malicious purposes such as stealing your bank account details and sensitive data.

Use Secure Websites

Ensure that you only use secure websites when giving personal information such as credit card numbers, bank account information, or social security numbers. You've undoubtedly noticed that certain pages on websites are identified as "secure" in your browser's address bar.

This indicates that these pages are encrypted to protect your personal information as it travels from your computer to the website's servers (and vice versa).

If you're going to purchase something online or otherwise, submit sensitive information to a website, and ensure that your connection is secure first.

Always Use Anti-Virus Software

Invest in anti-virus software and keep it up to date. This will help protect you from viruses and malware that can be sent to you through links online or email attachments from strangers or even people you know.

Be Careful About Who You Trust Online

People can easily create a fake online profile, and it can be tough to know if the person you are talking to is really who they say they are.

People often create fake profiles to steal other peoples' identities. It is best that you avoid sending any money or providing any personal information until you have had the chance to meet them.

Think Twice Before Entering Your Personal Information

When buying an item online, make sure that the payment provider or website you are using is reputable and secure. If a website does not have "HTTPS://" in front of it, it might not be safe, and your personal information may be at risk.

Use Strong Passwords and PINs

Make sure you use strong passwords and PINs to protect yourself from unwanted access to your accounts. When possible, use different passwords for each account. And never share these passwords with anyone else. Many people fall for phishing scams where criminals send emails pretending to be from the bank asking for your personal information - including passwords and PINs.

Banks will never ask for your PIN or full password in an email or phone, so never give them out.

Don't Be Afraid to Check Up on People

Legitimate companies do not send unsolicited emails asking customers for personal information like credit card numbers; if you receive such an email, call the company directly (not by dialing a number provided in the email itself) and ask about it before responding.

Avoid Using Unsecured Public Wi-Fi Networks

It can be tempting to use any available Wi-Fi network when you're out and about, but these aren't always safe. Always check that the network you connect to is secure before entering any personal information.

Check Your Credit Card Statements And Bank Accounts Regularly

If you see transactions on your credit card bill that you don't recognize, contact your provider immediately to report it. If you have been a victim of fraud, they will let you know what steps you need to take next.

Use Your Instincts and Common Sense

By taking advantage of the above list of ways to avoid internet fraud you will be doing your best to protect your finances, yourself, your family, and your small business website from fraudulent activity, but the best advice of all is to just use your common sense and instincts when dealing with people and businesses online.

Reference links

https://www.centralbank.net/personal/security/security-news/seven-tips-to-avoid-online-fraud/

https://abilitynet.org.uk/factsheets/internet-scams-and-how-avoid-them

https://www.bannerbank.com/financial-resources/blog/tips-to-prevent-online-fraud#.YmG-6NpBw2w

https://www.bigcommerce.com/blog/ecommerce-fraud/

The post How to Avoid Internet Fraud in the Age of Advanced Technology appeared first on MoneyThumb.

In a previous Rules of Thumb post we discussed how keeping your clients' data safe is not just a courtesy, it is the law. So you as an accountant are responsible for making sure your clients' data is as safe as possible.

The top accounting firm's cybersecurity risks

Client Risk

Accounting firms must guarantee the safety of the information that clients entrust to their care. From Social Security numbers to financials, accounting firms hold some of the most important information for individuals and businesses. If firms cannot keep this information protected, the consequences are significant. Accounting firms have a duty to protect this information at all costs.

Financial Risk

The financial consequences of a cyberattack are considerable. According to the 2020 Cost of a Data Breach Report, conducted by the Ponemon Institute, the average cost of a data breach in the United States is $8.6 million. Customer personally identifiable information (PII) has an average cost of $150 per record per breach. And it takes a while for most breaches to be detected – an average of 280 days.

Ease of Hacking

While nation-states and organized criminal enterprises are at the heart of many cyberattacks, hacking that completely disrupts your firm can be the work of an amateur. With very little training and sophistication, a hacker can disrupt your business and be very costly.

Reputational Loss

If your accounting firm is exposed to an attack, the losses are far more than financial. There is a major reputational risk. Affected customers are likely to talk. Some cases will reach the news media. Recovering some reputational losses can be difficult and as costly as the financial losses incurred due to a cyberattack.

If you and your accounting firm would like more help with cybersecurity issues, download this free whitepaper from Right Networks, Flirting with Disaster: How CPA firms Can Find the Security Help they Desperately Need.

Below is a description of what you will learn from this free whitepaper on cybersecurity for your accounting firm:

What’s worse? A ransomware attack is only one type of cyber threat. Compounded with phishing attempts, lurking Trojans, advanced persistent threats (ATP) that often go unnoticed for months...it’s almost unfathomable how often users are threatened.

The “it won’t happen to me” statement is false—it is already happening to you. And it’s happening to everyone you work with.

So, what are you going to do about it?

Start by downloading Flirting With Disaster: How Accounting Firms Can Find the Security Help They Desperately Need for information about immediately bolstering your security policies.

Then, keep reading to learn:

• If your current security measures are enough to protect your firm from data breaches
• Why trying to manage security in-house—especially at small firms—is bad (very bad)
• How to immediately safeguard the client data that software, apps, and hardware contain

Accountants MUST have the best cybersecurity strongholds since you handle so much delicate financial information of clients. Hackers are getting smarter as time goes on, so hopefully, this blog post from the Rules of Thumb blog from MoneyThumb will prevent you from being attacked by ransomware and other types of hacking.

The team at MoneyThumb would like to add one more important step for CPAs and accountants to make sure your clients' financial information stays safe, and that is using the best PDF financial file converters on the market. We use SSL (Secure Sockets Layer) technology which is the industry standard and among the best software available today for secure commerce transactions. It encrypts all of your personal information including credit card number, name, and address, to prevent it from being read as it travels over the Internet.

The post Why Cyber Security is So Important, Especially For Accountants appeared first on MoneyThumb.

Today on the Rules of Thumb blog from MoneyThumb we are going to review the IRS suggested guidelines for keeping accounting clients' data safe, or what is known as the "Security Six."

Below is a list of the six security steps accounting firms need to take to assure the safety of clients' data:

Tax pros: Follow the “Security Six” steps to help protect clients' data

Tax professionals should review security steps to make sure they are fully protecting sensitive taxpayer data. All tax pros should give their data safeguards a thorough review. Part of this review is following the “Security Six” protections.

Here is more info about these basic protections that everyone – especially tax professionals handling sensitive data – should use:

1. Anti-virus software
   • This software scans computer files or memory for certain patterns that may indicate there’s malicious software – also called malware – on the device.
   • Anti-virus vendors find new issues and update malware daily. This is why it’s important for users to install the latest updates of the software.
2. Firewalls
   • Firewalls provide protection against outside attackers. The firewall shields computers and networks from malicious or unnecessary web traffic. This helps prevents malicious software from accessing the user’s system.
3. Two-factor authentication
   • Two-factor authentication adds an extra layer of protection beyond a password.
   • The returning user enters credentials like a username and password. Then, there’s another step, such as entering a security code.
4. Backup software or services
   • Users should routinely back up critical files on their computers and hard drives to external sources.
5. Drive encryption
   • Because tax professionals keep sensitive client data on their computers, users should consider drive encryption software.
   • Drive encryption is also knowns as disk encryption. It transforms data on the computer into unreadable files. This means only people who are authorized to access the data can do so.
6. Virtual private network
   • Many tax firms’ employees must occasionally connect to unknown networks or work from home. So, the office should establish an encrypted virtual private network. This allows for a more secure connection.
   • A VPN provides a secure, encrypted tunnel to transmit data between a remote user over the internet and the company network.

By following the above six suggested security measures for tax preparers and accountants, you should be able to rest easy knowing your clients' data is safe. To help even further, download this free ebook from Right Networks titled How to Comply With the IRS “Security Six” and Keep Client Data Safe.

Below is a description of what you will learn from this ebook:

Ensuring data is secure isn’t just a bonus or an extra feature accounting firms can offer clients. Per the IRS—it’s the law.CPA firms that don’t protect their clients’ data face fines, compensatory costs, and other financial hits. But the biggest threat they face is a loss of their reputation for being trustworthy and reliable—and, as a result, the loss of both existing and potential clients. One security slip can literally destroy a firm.

This eBook goes into detail about how firms can not only stay in compliance with IRS regulations but also take specific steps to ensure the security and privacy of client data. In this eBook, we will:

• Dive into details about the IRS “Security Six”
• Find out what the IRS states CPA firms must do to stay in compliance
• Uncover what cloud technology has in common with the “Security Six”

Another great way to keep your accounting clients' data safe is by using our PDF financial file converters. This best-selling software is designed specifically for accountants, and has the following security measures in place for your safety and the safety of your clients:

The post Complying With The IRS "Security Six" To Keep Accounting Clients' Data Safe appeared first on MoneyThumb.

The Rules of Thumb blog from MoneyThumb would like to offer some tips for making sure you and your CPA or accounting firm are providing your employees who work from home the best in cybersecurity, to protect the financial assets of your clients. This article from CPA Practice Advisor provides some very important pieces of advice for helping accountants and CPAs with cybersecurity for their remote workers.

As the article points out, understanding the new cyber threat environment is the first step in making sure your firm is secure. Connectivity and bandwidth issues are being tested like never before, and employees have been forced to perform more work on personal devices, which creates additional security risks. Therefore, data privacy risks have increased exponentially in this environment.

A second point made by the CPA Practice Advisor article is that even if your accounting firm is small, cybersecurity is just as important to you as it is to the big accounting firms. In order for CPA firms to keep their valuable client and company data secure, automation, and Artificial Intelligence, (AI) are a must to mitigate potential risk. New technology is now available that will enable CPA firms to automate security measures and integrate a more behavioral, always-on approach to keeping data secure. Partnering with a cloud service provider with deep data and information security expertise and current experience leveraging AI, machine learning, and automation can literally be a company-saving strategic effort.

Building remote work ecosystems that include Virtual Desktop Solutions, deploying synchronous and asynchronous communication and sharing channels, and using virtual meeting technologies, to name just a few tools, are all IT elements that prepare CPA and accounting firms, large and small, to remain agile and to scale up when they enter growth mode. To be able to react quickly and set a company up for future change and growth, CPA firms need to invest more heavily in IT tools and systems that enable this kind of environment.

A third and just as important point made by the referenced article discusses constantly educating and training your employees in cybersecurity practices and adapting your firms' security plan as needed.

We have listed below important steps accounting firms and CPAs can take from the CPA Practice Advisor article:

• Augment Your Data Backup Processes. Implement multiple daily backups using different methods like the cloud and hard drive backups, for example. Backups should live outside your network, outside your physical office space and should not be virtually connected to your network. The key is the diversity of backup types and consistency.
• Secure Home Networks. More people are working from home because of the coronavirus, which means an increased risk of security breaches via home networks working with your CPA firm’s data. Here are some tips for securing home networks:
  • Use a wired connection
  • Review equipment that’s being used by staff at the home
  • Run updates, patch, and reboot until all updates are made
  • Subscribe to antivirus software
  • Use two-factor authentication (2FA)
  • Remain vigilant both about updates and staff behaviors/education about the threat environment
• Establish Company-Wide Security Policies. Technology like AI will not solve security issues. People remain a huge factor in the success of any cybersecurity system. Therefore it is critical that CPA firms build-out, distribute and update an enterprise security policy that is clear and promotes accountability. This policy should include:
  • Clear, enforced password rules
  • Restricted access and permissions
  • Protection for all devices
  • Two-factor authentication
  • Documentation disseminated to all staff
  • Remote work/Bring Your Own Device Policy
  • A security emergency response plan
• Stay Informed and Educated. The cyber threat environment is constantly changing, so keeping abreast of the latest reports and threats is critical to keeping your data safe. Following IT security-related resources like MSSP Alerts, Crowdstrike, Cybersecurity SmartBrief, and the Tech Republic for cybersecurity updates.

The team at MoneyThumb would like to add one more important step for CPAs and accountants to make sure your clients' financial information stays safe, and that is using the best PDF financial file converters on the market. We use SSL (Secure Sockets Layer) technology which is the industry standard and among the best software available today for secure commerce transactions. It encrypts all of your personal information including credit card number, name, and address, to prevent it from being read as it travels over the Internet.

The post Cybersecurity is Now More Important Than Ever For Your Accounting Firm appeared first on MoneyThumb.