10 steps to protect you against Business Email Compromise

10 steps to protect you against Business Email Compromise 1

Lately, businesses are the focal point for cybercriminals. Business owners should protect their email and social accounts to avoid being compromised. Cybercriminals have been successfully hacking accounts in an attempt to impersonate key position holders in a company. This is usually done to make unsuspecting clients or businesses make payments to them. Business Email Compromise is rampant, business owners should work towards avoiding It.

An email compromise is also known as EAC (email account compromise) or CEO email fraud has cost businesses a lot of money, as there has been an increase in the rate of compromised emails. You can take these steps to protect your Business Email from scam.

Steps to protect you against business email compromise

  • Enable two-factor authentication on your email accounts. This will prevent attackers from being able to hack into your accounts and use them to perform fraud.
  • Educate employees on the best practices that ensure that the security is not compromised. You should also let them know the measures that guaranteed their protection from cybercrimes.
  • Constantly ensure that all requests for payments are confirmed either via phone or in person. Do not make payment until it is confirmed outside the email.
  • Consider putting a limit on the amount of money your company can withdraw from your company bank. This way your bank can verify requests that go above the limit.

Also read: How to Secure Funding From International Investors

  • Use a self-hosted or Subscription service for all email exchanges, they are more secure than a free email server.
  • Double-check emails that request an immediate transfer of funds even if they are sent from the executives.
  • Do not click on links from email addresses that you do not know. Ensure that you delete all spams, they sometimes take you to sites that are not secured or site with malware to compromise your email.
  • Always require a multi-level authentication for sensitive accounts, this will make it harder for a cybercriminal to hack the account.
  • Be sure that only a minimum number of people is authorized to process and approve company wire transfers and check payments.
  • Have a team in charge of IT security in order to lock down your systems when needed. They should also implement proper security policies. They should also educate your employees on practices that guarantee safety across all platforms.

I strongly suggest that businesses learn about methods that keep their email accounts safe as all businesses are at risk regardless of how large or tech-savvy they are