Know Your Cyber Threats

Every business that uses the Internet, accepts credit cards, or uses a system network should be aware of these prevalent dangers that can threaten your business.

Fraudulent Funds Transfer   The loss of money due to an unauthorized user instructing your bank to wire funds out of your account. The loss can be initiated by a computer hacker or a renegade employee.

Ransomware Attack   A global term for any computer virus used to deny access to a computer’s system, data or files by the owner or authorized users. In exchange for its release, criminals typically ask for some form of payment or ransom, usually in bitcoin, which is untraceable.

Social Engineering   The practice of tricking an employee into revealing sensitive information or sending money to an unauthorized recipient. One popular form of Social Engineering fraud occurs when criminals trick an employee into sending them money by impersonating a business vendor, customer or senior/C-level executive.