How to safeguard your business from phishing scams

In today’s digital age, where online transactions and interactions are the norm, the spectre of phishing scams poses a significant threat to small-to-medium businesses.

As these scams become more sophisticated, organisations must remain vigilant, especially during peak online activity. This is especially true for small-to-medium enterprises, that may not have the cybersecurity resources to monitor cyber threats across the organisation.

This guide provides comprehensive insights and strategies to protect your business from the rising tide of phishing scams.

Understanding phishing

Phishing, a form of cyberattack, involves malicious actors posing as trustworthy entities to trick individuals into revealing sensitive information.
While the concept is not new, the tactics used by cybercriminals are evolving rapidly.
Businesses must enhance awareness and implement robust protective measures to
counteract these threats.

How to identify a phishing scam

Spelling mistakes or bad grammar:
Phishing emails often contain subtle errors. Train your employees to scrutinise communication for spelling and grammar mistakes, as legitimate entities maintain high language standards.
Unfamiliar sender email:
Pay close attention to the sender’s email address. Phishers may use addresses resembling legitimate sources but with variations or misspellings. Exercise caution, especially with unexpected communications.
Strange URL:
Hover over hyperlinks to reveal the actual destination URL. Phishing emails may include masked URLs that redirect to fraudulent websites. Instruct employees to verify the legitimacy of URLs before clicking on any links.
Sense of urgency:
Phishing emails often create a false sense of urgency, pressuring recipients to act hastily. Emphasise the importance of verifying requests for sensitive information, especially during unexpected rushes.

Strengthening cybersecurity defenses

While fortifying defences against phishing, establishing solid cybersecurity protocols within the business is instrumental in ensuring safekeeping of data. This includes hardware and software security solutions that will build a stronger defence against outside threats.
When it comes to hardware, some PC, laptop and server providers offer business-first
solutions that have cybersecurity tools built-in. In addition, there are a myriad of software applications that will help safeguard your business’ data and your employees.

Empowering your business with cybersecurity tools

Different cybersecurity tools are tailored to counter specific threats. Understanding these tools is essential for building a robust defense.

Biometric authentication:
Implement advanced security features such as fingerprint sensors or facial recognition on devices. Many commercial laptops, for example, integrate these methods to add an extra layer of protection against unauthorised access.
Hardware-based security:
Utilise features like Trusted Platform Module (TPM) to encrypt sensitive information stored on devices. This safeguards against data breaches and ensures the integrity of your business data.
Network security monitoring tools:
Identify external network threats and prevent attacks originating from the organisation’s intranet.
Security compliance tools:
Scan networks, tools, and processes against regulatory frameworks to detect non-compliant activities and security failures.
Web vulnerability scanning tools:
Continuously monitor security risks in web applications, revealing flaws and vulnerabilities.
Network defense wireless tools:
Improve security while maintaining network usability and integrity by controlling network access using hardware and software technologies.
Encryption tools:
Decode or encode data streams at rest or in transit, making them safe and unreadable by unauthorised individuals.
Firewalls:
Prevent unauthorised access to the company intranet through hardware, software, or hybrid implementations.

Antivirus software:
Monitor, block, and remove viruses and malware from computer systems and networks.

Safeguarding your business in the digital age

As businesses thrive in the digital landscape, the importance of cybersecurity cannot be overstated. Phishing scams represent a pervasive and evolving threat, demanding a proactive and informed approach.
By staying vigilant, educating employees, and partnering with reliable cybersecurity
providers, businesses can fortify their defences and confidently navigate the digital age. In the face of rising phishing scams, proactive measures and reliable partnerships are the keys to securing the future of South African businesses online.