Businesses around the world are being struck with a cyber-attack that sends victims a fake invoice that looks real enough to fool to most employees. It’s an old scam that used to see bills faxed or mailed in, but it’s made its way into the digital world and instances are on the rise.

Chances are you’ve already seen some of the less effective attempts, like an email advising your domain is expiring, except it’s not from your host and your domain is nowhere near expiration. These new attacks are more advanced, in that they look completely legitimate and are often from contractors/suppliers you actually use. Logos are correct, spelling and grammar are spot on, and they might even refer to actual work or invoice numbers. The sender name may also be the normal contact you’d associate with that business, or even a co-worker, as cybercriminals are able to effectively ‘spoof’ real accounts and real people. While it’s worrying that they know enough about your business to wear that disguise so well, a successful attack relies on you not knowing what to look for, or even that fakes are a possibility. With that in mind, here are two types of invoice attacks you might receive:

The Payment Redirect

This style of fake invoice either explicitly states payment should be made to a certain account, perhaps with a friendly note about the new details, or includes a payment link direct to the new account. Your accounts payable person believes they’re doing the right thing by resolving the invoice and unwittingly sends company money offshore. The problem usually isn’t discovered until the real invoice from the real supplier comes in or the transaction is flagged in an audit. Due to the nature of international cybercrime, it’s unlikely you’ll be able to recover the funds even if you catch it quickly.

The Malware Click

Rather than go for the immediate cash grab, this style of attack asks your employee to click a link to download the invoice. The email may even look like the ones normally generated by popular accounting tools like Quickbooks, making the click seem safe. Once your employee has clicked the link, malware is downloaded that can trigger ransomware or data breaches. While an up-to-date anti-virus should block the attack at that stage, it’s not always guaranteed, especially with new and undiscovered malware. If it does get through, the malware quickly embeds itself deep into your systems, often silently lurking until detected or activated.

How to Stay Safe

Awareness is key to ensuring these types of attacks have no impact on your business. As always, keep your anti-virus and spam filters up to date to minimize the risk of the emails getting through in the first place. Then, consider implementing a simple set of procedures regarding payments. These could include verifying account changes with a phone call (to the number you have on record, not the one in the email), double checking invoices against work orders, appointing a single administrator to restrict access to accounts, or even two-factor authorization for payments.

Simple pre-emptive checks like hovering the mouse over any links before clicking and quickly making sure it looks right can also help. Like your own business, your contractors and suppliers are extra careful with their invoicing, so if anything looks off – even in the slightest – hold back on payment/clicking until it’s been reviewed. Fake invoices attacks may be increasing, but that doesn’t mean your business will become a statistic, especially now that you know what’s going on and how you can stop them.

I can help increase your security. Call me at (828) 290-8237.

15 years after the world united to crack down on spam emails, we’re still struggling with overloaded inboxes. All that unwanted email continues to flood the internet, much of it targeted to small businesses, and the impact goes wider than you might think. Here’s the full breakdown of how modern spam works and how it’s hurting your business.

What is spam? Generally speaking, spam is any unwanted message that lands in your email, comes via text, social media messaging, or other communication platform. It might be sent to your main business account, for example your ‘contact us’ email, or direct to your employees. Most of the time, spam is annoying but relatively innocent messages from another business inviting you to buy/do/see something. They’re newsletters, reminders, invitations, sales pitches, etc. You may know the sender and have a previous relationship with them, or they might be a complete stranger.

Why you’re getting spammed. Maybe you or your employee signed up for a newsletter or bought a $1 raffle ticket to win a car. Perhaps you got onto the mailing list accidentally after enquiring about a product, not knowing that simply getting a brochure sent through would trigger a spam-avalanche. Often there’s fine print that says they’ll not only use your details to send you their marketing, but they’ll share your details with 3rd parties so they can send you messages too. That single email address can be passed around the internet like wildfire, and before you know it, you’re buried under spam. Sometimes, and more than we’d like to think, your details are found illicitly, perhaps through a hacked website for example, like the recent LinkedIn leak. More often though, your email is simply collected by a computer ‘scraping’ the internet – scouring forums and websites for plain text or linked emails and selling them as prime spam targets. It’s easy to see how individual office employees receive an average of 120 emails daily, over half of which are spam!

More than annoying. We all know spam is annoying, but did you know it’s also resource hungry? Your employees are spending hours each week sorting their email, assessing each one for relevance and deleting the spam. Too often, legitimate emails from clients and customers get caught up and are accidentally deleted. Add in the temptation to read the more interesting spam emails and productivity drops dramatically. On the other side of the business, your email server might be dedicating storage and processing power to spam emails, occasionally to the point where inboxes get full and real mail is bouncing out. While most spam is simply an unwanted newsletter or sale notice, there’s also the risk that any links may be a cyber-attack in disguise. After all, one click is all it takes to open the door to viruses, ransomware, phishing or other security emergencies.

How to stop the spam. The 2003 Can Spam Act (a global set of anti-spam laws) requires all marketers to follow certain rules, like not adding people to mailing lists without permission, and always including an ‘unsubscribe’ link.  So firstly, make sure you’re not accidentally giving people permission to email you – check the fine print or privacy policy. Next, look for the unsubscribe link at the bottom of the email. If the spam is from a legitimate know company use this link. Unfortunately, not all of them include the link, or they hide it somewhere impossible to see. Do not click unsubscribe on an email from a company you do not know. The worst spammers take that ‘unsubscribe’ click to confirm that your email address is valid/active and then sell it on. There are various types of spam filters on the market, often bundled with your email, that can help curb the amount of spam you receive.

Talk to me about your anti-spam protections. Call me at (828) 290-8237.