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How to Protect Your Business From This $43B Scam

We hate click-bait titles so here’s the gist quickly. 

 

First, the FBI recently reported business email compromise attacks were up 65% from July 2019 through December 2021 and totaled $43 Billion dollars – that’s BILLION with a B – in reported losses from June 2016 through July 2019.  

 

Additionally, if you and your team do business on the internet, you are at risk. Okay, that sounds click-baity, too, but it’s absolutely true. We’ve said it over and over. There are plenty of proactive options to build a strong strategy. 

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5 Crucial Steps to Take After Your Email Has Been Compromised

Written by Hope Rickerd and Tom Farr, PTG employees

 

Your phone dings. The message is dire. You’ve suspected the worst. And the worst has happened: An account on your network – maybe even your own – has been compromised. 

 

The good news is a breach can be isolated and managed, especially if you’ve taken proper preventative measures. The fight to mitigate risk begins with a solid data security plan but continues every day. In the unfortunate and problematic event that you are compromised, use the steps below to help guide what you and your team should do immediately. 

 

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Here's How A Nigerian Email Scammer Stole Millions from US Businesses Before The FBI Finally Caught Him.

"I am a Special Agent with the Federal Bureau of Investigation
(“FBI”), and have been so employed since approximately March 2015...I primarily investigate cyber-enabled fraud and business email compromise (“BEC”) schemes," that's how the FBI's criminal complaint against Ray "Hushpuppi" Abbas begins. Abbas is the Nigerian man accused of participating in a massive email scam operation targeting US businesses. 

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Most Common Cyber Attacks Targeting Small Businesses in 2020

Did you know that 43% of all cyber crime is directed towards small businesses? This is due to a number of factors, but mainly because a majority of small businesses still refuse to take a proactive approach when it comes to cybersecurity. As long as SMBs are willing to sit back and allow hackers to target them, the number of attacks on small businesses are only going to continue to increase. 

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You Need to Be Aware of This New Payroll Fraud Scam!

Before the Coronavirus outbreak, payroll scams were already increasing. Now, with bad guys seeing workers more dependent on getting paid on time, this type of phishing fraud is happening even more. 

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