Written by Lo Nestman
Nearly 75% of organizations were targets of a cyberattacks in 2020. Fraud activity is on the rise, leaving businesses of all sizes at risk. Alleviating fraud should be top-of-mind for business leaders, and organizations should actively implement controls and measures to restrict the occurrence of such activity. Not only can cybercrime hurt a company’s bottom line, but when left unchecked, it can limit a company’s growth.
As a result of the Covid-19 pandemic, many businesses across the country moved some or all their operations online. Although this move has resulted in better customer reach and employee safety, it has also led to a rise in criminal activity, including cyber fraud.
Cyber fraud can be difficult to combat because cybercriminals are very tech-savvy and good at posing as legitimate sources. They seek out victims via email, malware, phone calls and fraudulent websites.
Common cyber fraud schemes
Cybercrime can make it more difficult for businesses to grow and achieve their financial goals. To help you and your employees know how to spot cyber fraud, here are some of the most common ways cybercriminals try to access systems and obtain information.
Phishing. Phishing happens when cybercriminals send fraudulent emails or direct business owners to websites that ask for private,…