08.11.2017

Fraudster/ Spammers steal money from business

Fraudster/ Spammers steal money from business that aren`t using email encryption, spam filters. Could your business be next?

Fraud and scammers are making email seem genuine to trick companies to sending invoice payments to them. It costs about £9bn a year for UK companies. From this small companies go bust which makes the scammers target bigger companies as they get more confident. "Criminals have realised that hitting businesses rather than individuals can mean much bigger wins," says Orla Cox, director of security response at cyber security specialist Symantec.

Once a scammer has got your email they will make an email look genuine and it will slip through the spam filters. "The emails used in this kind of fraud can slip through spam filtering systems because they are not sent to multiple users, and are written to appear innocuous," says Orla Cox. Also the company should have a spam filter that way emails can filter through the system. "If an email seems suspicious, the system will then block it and inform the company to check whether it is genuine or not." says Orla Cox.

In emails a fraudster changes the domain only slightly the email "A fraudster might, for example, switch the 'm' and the 'n' in Symantec when setting up a fake domain," says Orla Cox.

When sending an important email you should always send it encrypted that way you can trace the email and check that the sender has opened it. "Employees should be encouraged to double check everything they do," says Steve Proffitt, deputy head of Action Fraud, the UK's reporting centre for fraud and cyber-crime.

www.bbc.co.uk/news/business-37505760

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