The top tips for businesses in preparation of EOFY scams
- Written by: Damian Grace
With the end of financial year (EOFY) imminent, it’s imperative that organisations and individuals alike are well informed on how to spot and report scam emails and undertake prevention measures. The constant changes in the technology used by cyber criminals, including the rise of AI, mean scams are becoming more advanced and sophisticated. To help safeguard you and your organisation, Phriendly Phishing has composed tips for remaining vigilant against EOFY scams.
Don’t fall victim to phishing
Phishing emails are fraudulent messages with the intent of stealing personal or commercial information, or installing malware or ransomware on a networked machine. These are aimed to encourage the recipient to interact with the scammer, and so will employ psychologically manipulative methods, also called ‘Social Engineering’.
Phishing can be prevented by identifying the giveaways that separate a scam email from a legitimate one. Be attentive to misspellings, unusual email addresses, and unfamiliar URLs. Pause and think about the action the sender wants you to take, is it time sensitive or unusual? Cyber security training offered by Phriendly Phishing, equips organisations of all sizes with the training necessary to reduce their security risk, putting in place the right tools to combat such attacks.
Ensure you have strong cyber security measures in place
EOFY is a great time to evaluate and examine your workplace’s security policies and procedures. Factors that should be reviewed include password policies, access control measures, and remote work protocols.
Implementing multi-factor authentication (MFA) supplies an additional layer of security to help prevent unauthorised access to sensitive data. This form of security requires a user to provide two or more forms of identification to gain access to a system, account, or application. A great security measure to help safeguard the workplace from potential threats.
Educating the workplace on cyber insights
It is important to keep workplaces up to date with the most recent scams going around, to ensure the workplace has a greater understanding of cyber risks. In doing so, employees will develop a higher sense of vigilance. Re-engineering recent scams and providing insights is a great tactic to stay one step ahead.
Importance of general housekeeping
Cyber security is an ongoing effort that requires constant vigilance and adaptivity, so it is crucial to embed cyber security into the culture of your organisation. Conducting regular security awareness training for all employees will reinforce best practices and help recognise potential threats before it’s too late. By implementing these practices and continually informing the workplace of emerging threats, this will significantly reduce the risk of cyber incidents.
The majority of email scams can be spotted by following simple steps; the more sophisticated ones are best dealt with additional security training. Regular training sessions can help to ensure your workplace is braced for all types of attacks. Security awareness and phishing simulation training such as Phriendly Phishing, ensure your workplace is educated and empowered to help mitigate reputational and financial loss from cyber attacks.
In today’s digital age it is more important than ever to be prepared for scams and phishing attacks. By investing in scam awareness and prevention programs, workplaces will safeguard their resources, protect sensitive data and preserve reputation. Proactive preparation involves every aspect of the workplace – this EOFY, watch out for imitation-style emails and phishing attacks by ensuring strong cybersecurity measures are in place, by educating the workplace and placing a large importance on housekeeping.
By Damian Grace, Founder, and Executive Director of Product and Technology
