No matter what your turnover is, that scenario would be a total nightmare, wouldn’t it? But perhaps you’re confident that it could never happen to your business.
Well let me gently challenge that. Because I’ve seen this kind of theft happen to plenty of businesses round here.
It’s not a company insider who steals the cash. Nor someone at the bank. And it doesn’t require anyone to steal your bank login credentials.
No, this kind of theft can be set up very easily by a hacker – and all they need is to gain access to one person’s email account. In fact, email is the number one security threat to your business. It’s where most cyber breaches start.
Because if you think about it, your email is the “in and out” of most business communications. Far too often we are contacted by businesses whose staff think they have “clicked on a dodgy link”. Even the best defences are constantly tested by the huge attacks on your IT system that can be unleashed.
The days of hackers breaking into email just for fun, or to cause havoc are long gone. These days, they are more likely to access an account and set up a hidden email forwarder. That means they can monitor all emails being sent to you.
And from there they can spot patterns. Such as a large invoice sent by a key supplier, on the same date each month.
Then all they need to do is implement some clever social engineering… such as sending a fake follow-up email with “new bank details” immediately after the real invoice has been received… This exact scenario is the subject of my new book on email security. And I want to give you a free copy.