Emails have evolved to become the prime form of communication for most companies worldwide. Countless online stores and other organizations carry on daily operations via email.
That’s why learning how to deal with email fraud is crucial—now more than ever. Malicious actors understand the importance of emails and can easily slide their way into your inbox if you’re not careful.
Below we discuss the importance of email fraud, how it can affect your business, and how to prevent it.
What is Fraud?
Fraud prevention starts with understanding what fraud is. The academic definition describes it as an intentionally deceptive action designed to provide a perpetrator with a benefit while denying something to a victim. In other words, any activity that relies upon false representation to achieve a gain, financial or otherwise, is defined as fraud.
Fraud can be carried out by a single individual or a collective group. Common types of fraud include:
- Tax fraud
- Debit or credit card fraud
- Insurance fraud
- Healthcare fraud
- Securities fraud
- Identity fraud
- Online fraud
Email fraud is particularly harmful and one of the most common types of scams you can face online. Let’s take a closer look.
What is Email Fraud?
Email fraud or email scams are terms used to refer to any fraudulent activity carried out via email. There are many types of email fraud with objectives such as:
- Data theft
- Financial theft
- Credential theft
- Wire fraud
- Supply-chain attacks
- Malware infection
The most…
