How to Protect Your Startup from Email Scams

  Despite predictions of its demise,email remains a vital business tool—and a prime target for cybercriminals.Hackers frequently use deceptive emails to steal sensitive information,resulting in significant breaches like the 2022 Twilio hack and last year’s Reddit attack.As these tactics grow more sophisticated,it’s essential for startups to be vigilant.

  Spotting Business Email Compromise(BEC)Scams

  Look for Warning Signs

  Cybercriminals often send emails that exhibit red flags,such as:

  •Emails sent outside of regular business hours.

  •Misspelled names or email addresses.

  •Mismatches between the sender’s email address and the reply-to address.

  •Unusual links and attachments.

  •Unwarranted urgency.

  Contact the Sender Directly

  If an email seems suspicious,don’t respond directly.Instead,use a known phone number or email address to confirm the request with the sender.This is crucial in spear phishing attacks where hackers impersonate executives or partners.

  Check with IT

  Tech support scams are becoming more common,where attackers mimic legitimate login pages to steal credentials.Always verify unexpected messages or pop-ups with your IT department.

  Be Wary of Phone Calls

  Hackers are increasingly using phone calls to deceive employees.Be skeptical of unexpected calls,even if they appear legitimate,and never share sensitive information over the phone.

  Implement Multi-Factor Authentication

  While not foolproof,multi-factor authentication adds a layer of security beyond passwords.Consider using passwordless technologies,like hardware security keys,to prevent theft from malware.

  Stricter Payment Processes

  To mitigate risks,develop rigorous payment protocols:

  •Require secondary confirmations for money transfers.

  •Establish a clear approval process for payments.

  •Ensure the financial team verifies any changes in bank account details.

  Ignore Suspicious Requests

  Sometimes,the best response to a suspicious email or call is to ignore it and report it to your IT department.This helps maintain awareness and protect your team.

  By following these strategies,startups can better protect themselves from the evolving threat of email scams.

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