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Torch I.T. Solutions has been serving the Katy area since 2017 , providing IT Support such as technical helpdesk support, computer support, and consulting to small and medium-sized businesses.

Alarming Phishing Attack Trends to Beware of in 2022

Thief in Black with Bluebackground

 Theif dressed in black with blue background

In 2020, 75% of companies around the world experienced a phishing attack. Phishing remains one of the biggest dangers to your business's health and wellbeing because it’s the main delivery method for all types of cyberattacks.

One phishing email can be responsible for a company succumbing to ransomware and having to face costly downtime. It can also lead a user to unknowingly hand over the credentials to a company email account that the hacker then uses to send targeted attacks to customers.

Phishing takes advantage of human error, and some phishing emails use sophisticated tactics to fool the recipient into divulging information or infecting a network with malware.

Mobile phishing threats skyrocketed by 161% in 2021.

Your best safeguards against the continuous onslaught of phishing include:

·           Email filtering

·           DNS filtering

·           Next-gen antivirus/anti-malware

·           Ongoing employee cybersecurity awareness training

To properly train your employees and ensure your IT security is being upgraded to meet the newest threats you need to know what new phishing dangers are headed your way.

Here are some of the latest phishing trends that you need to watch out for in 2022.

PHISHING IS INCREASINGLY BEING SENT VIA TEXT MESSAGE

Fewer people are suspicious of text messages than they are of unexpected email messages. Most phishing training is usually focused on the email form of phishing because it’s always been the most prevalent.

But cybercrime entities are now taking advantage of the easy availability of mobile phone numbers and using text messaging to deploy phishing attacks. This type of phishing (called “smishing”) is growing in volume.

People are receiving more text messages now than they did in the past, due in large part to retailers and service businesses pushing their text updates for sales and delivery notices.

This makes it even easier for phishing via SMS to fake being a shipment notice and get a user to click on a shortened URL.

BUSINESS EMAIL COMPROMISE IS ON THE RISE

Ransomware has been a growing threat over the last few years largely because it’s been a big money-maker for the criminal groups that launch cyberattacks. A new up-and-coming form of attack is beginning to be quite lucrative and thus is also growing.

Business email compromise (BEC) is on the rise and being exploited by attackers to make money off things like gift card scams and fake wire transfer requests.

What makes BEC so dangerous (and lucrative) is that when a criminal gains access to a business email account, they can send very convincing phishing messages to employees, customers, and vendors of that company. The recipients will immediately trust the familiar email address, making these emails potent weapons for cybercriminals.

SMALL BUSINESSES ARE BEING TARGETED MORE FREQUENTLY WITH SPEAR PHISHING

There is no such thing as being too small to be attacked by a hacker. Small businesses are targeted frequently in cyberattacks because they tend to have less IT security than larger companies.

43% of all data breaches target small and mid-sized companies, and 40% of small businesses that become victims of an attack experience at least eight hours of downtime as a result.

Spear phishi small businesses receiving more tailored phishing attacks that are harder for their users to identify as a scam.

THE USE OF INITIAL ACCESS BROKERS TO MAKE ATTACKS MORE EFFECTIVE

We just discussed the fact that large criminal groups are continually optimizing their attacks to make them more effective. They treat cyberattacks like a business and work to make them more profitable all the time.

One way they are doing this is by using outside specialists called Initial Access Brokers. This is a specific type of hacker that only focuses on getting the initial breach into a network or company account.

The increasing use of these experts in their field makes phishing attacks even more dangerous and difficult for users to detect.

BUSINESS IMPERSONATION IS BEING USED MORE OFTEN

As users have gotten savvier about being careful of emails from unknown senders, phishing attackers have increasingly used business impersonation. This is where a phishing email will come in looking like a legitimate email from a company that the user may know or even do business with.

Amazon is a common target of business impersonation, but it also happens with smaller companies as well. For example, there have been instances where website hosting companies have had client lists breached and those companies sent emails impersonating the hosting company and asking the users to log in to an account to fix an urgent problem.

More business impersonation being used in phishing attacks mean users have to be suspicious of all emails, not just those from unknown senders.

IS YOUR COMPANY ADEUATELY PROTECTED FROM PHISHING ATTACKS?

It’s important to use a multi-layered strategy when it comes to defending against one of the biggest dangers to your business's wellbeing. Get started with a cybersecurity audit to review your current security posture and identify ways to improve.

Article used with permission from The Technology Press.

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Is Data a Commodity? Maybe Not, but It Is an Asset

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The late American author Kurt Vonnegut once wrote, “New knowledge is the most valuable commodity on earth. The more truth we have to work with, the richer we become.” Written in the 20th century, it has been put in practice by 21st century businesses. As the Internet has grown, the amount of companies expanded, and the amount of data that those companies collect has grown exponentially, especially now that there is a market for such data.

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A Look at Business Computing Costs: Cloud vs. On Premise

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Profitability is less the measure of being able to turn a profit, and more the measure of how much profit you can make. For the successful small business, the integration of technology can dictate what kind of annual margins you are looking at. For the new company, however, it can be something even more critical: the difference between setting a course for success, or wallowing in failure. Today we analyze the cost difference between hosting your IT in-house, or choosing to host it in the cloud.

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Knowing, and Planning For, Your Organization’s Compliance Burden

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Despite what detractors say, regulations are in place for good reason. They typically protect individuals from organizational malfeasance. Many of these regulations are actual laws passed by a governing body and cover the entire spectrum of the issue, not just the data involved. The ones that have data protection regulations written into them mostly deal with the handling and protection of sensitive information. For organizations that work in industries covered by these regulations there are very visible costs that go into compliance. Today, we look at the costs incurred by these organizations as a result of these regulations, and how to ascertain how they affect your business.

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4 Ways a Managed Service Provider Can Help Your Business

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How much does your business rely on technology to keep your organization running forward? As business technology becomes more complex, it’s becoming increasingly popular for organizations to have their own internal IT departments to manage and maintain it. Yet, small businesses don’t often have the necessary funds for such a feat. How can your company afford quality IT service? You can start by pursuing managed IT solutions from a managed service provider.

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When it Comes to Security, Two Factors are Better Than One

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The password isn’t nearly as secure as it used to be. Hackers have begun to take advantage of extremely powerful solutions designed to brute force their way into accounts by using software to rapidly guessing thousands of passwords per second, making it extraordinarily difficult to prepare yourself for them.

What’s the best way to guarantee that passwords aren’t going to be the downfall of your company? A great start is by taking a close look at password best practices and two-factor authentication.

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How to Avoid Becoming the Next Data Security Cautionary Tale

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Data security isn’t a matter to be taken lightly, as too many businesses have found out the hard way. Unfortunately, there are far too many simple ways to correct common security issues - enough that it’s foolish not to do so. We’ll review a few ways to fix security issues, after discussing one of, if not the, most egregious security failings in modern history.

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Is Your Cloud Solution Actually a Money Pit?

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The cloud has proven to be an extremely useful tool for the modern business. Not only does it provide anywhere-anytime access to applications, processing, storage, et al; it also delivers those products as a service, allowing you to budget for recurring costs rather than major upfront ones. This provides your organization with functional, supported, and secure computing environments that eliminate a lot of the support costs that traditional computing environments require. It sounds like a perfect scenario for small and large businesses alike, but things aren’t always what they seem, as a lot of cloud users have found that they have incurred several hidden costs by using cloud platforms. Today, we take a look at these hidden costs.

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Why (and How) SMBs Should Strategically Adopt Technology

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There is no question that a small business can benefit from technology, as has been proven time and time again. However, an issue can arise if a business bites off more than it can chew, so to speak, and ultimately creates a spike in costs. A responsible business owner will resist this temptation and prioritize the solutions they need over the ones they want - building profitability and generating capital needed to make other improvements.

In this blog, we’ll examine some of the implementations that can deliver a good return on investment to a small business.

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23501 Cinco Ranch Blvd Suite H120-237
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