Phishing Attacks & Small Business Survival

Phishing attacks can be a real worry for businesses of all sizes, particularly small businesses. They're sneaky, they're familiar, and they can cause a lot of trouble. But don't worry, we're going to look at what they are, how they work, and most importantly, how to protect your business.

What Are Phishing Attacks?

Put simply, it’s a type of cyber attack where someone tries to trick you into giving them sensitive information. This might include things like your login details, passwords, bank account numbers, or credit card details.

They usually do this by sending you an email, text message, or other type of message that looks like it's from a legitimate organisation. This might be your bank, a social media platform, a colleague or even a well-known online retailer. The message will often contain a link to a fake website that looks just like the real thing.

Once you're on the fake website, you'll be asked to enter your personal information. If you do, the attackers will steal it and use it for their own purposes. This could include stealing your money, identity theft, or even gaining access to your business systems.

Why Are Small Businesses Targets?

You might be thinking, "Why would anyone target my small business?" Well, the truth is, that small businesses are often seen as easy targets. They may not have the same level of security as larger organisations, and they may be less likely to have dedicated IT staff.

Small businesses often hold valuable data, such as customer information and financial details. This data can be very valuable to cybercriminals, who can use it for various purposes.

A successful attack on a small business can cause significant disruption, potentially leading to closure. Cybercriminals know this and use it to their advantage.

Common Types of Phishing Attacks

There are many different types of phishing attacks, but some are more common than others.

Email Phishing

This is the most common type of phishing attack. It involves sending emails that look like they're from legitimate organisations. These emails often contain links to fake websites or attachments that contain malware.

Spear Phishing

This is a more targeted type of phishing attack. It involves sending emails that are tailored to a specific individual or organisation. These emails often contain personal information that makes them seem more legitimate.

Whaling

This is a type of spear phishing that targets high-profile individuals, such as CEOs or other senior executives. These attacks are often very sophisticated and can be difficult to detect.

Smishing

This is a type of phishing attack that uses text messages, or SMS, to trick people into giving away their personal information. These messages often contain links to fake websites or phone numbers to call.

Vishing

This is a type of phishing attack that uses phone calls to trick people into giving away their personal information. The attackers may pretend to be from a bank, a government agency, or another legitimate organisation.

How to Spot a Phishing Attack

Spotting a phishing attack can be tricky, but there are some telltale signs to look out for.

Suspicious Email Addresses

Check the sender's email address carefully. Phishing emails often come from addresses that are slightly different from the legitimate organisation's address.

Generic Greetings

Be wary of emails that use generic greetings, such as "Dear Customer" or "Dear User." Legitimate organisations will usually address you by name.

Urgent Requests

Phishing emails often create a sense of urgency, asking you to act quickly to avoid a negative consequence.

Suspicious Links

Hover your mouse over any links in the email to see where they actually lead. Phishing links often lead to fake websites that are designed to look like the real thing.

Poor Grammar and Spelling

Phishing emails often contain poor grammar and spelling mistakes. This is because they are often written by people who are not native English speakers.

Unexpected Attachments

Be wary of emails that contain unexpected attachments. These attachments may contain malware that can infect your computer.

Steps to Protect Your Business

Protecting your business from phishing attacks requires a multi-layered approach.

Employee Training

Your employees are your first line of defence against phishing attacks. Provide them with regular training on how to spot and avoid phishing emails.

Strong Passwords

Use strong, unique passwords for all of your accounts. Consider using a password manager to help you generate and store your passwords.

Two Factor Authentication

Enable two-factor authentication, or 2FA, for all of your accounts. This adds an extra layer of security by requiring you to enter a code from your phone or another device when you log in.

Antivirus Software

Install and regularly update antivirus software on all of your computers and devices.

Firewalls

Install and configure firewalls to protect your network from unauthorised access.

Regular Backups

Regularly back up your data to an external hard drive or cloud storage. This will help you to recover your data in the event of a cyber attack.

Security Updates

Keep your software and operating systems up to date with the latest security patches.

Phishing Simulations

Conduct regular phishing simulations to test your employees' awareness and identify any weaknesses in your defences.

Incident Response Plan

Develop an incident response plan to outline the steps you will take in the event of a phishing attack.

Seek Expert Help

If you're feeling overwhelmed by the thought of protecting your business from phishing attacks, don't worry. There are plenty of experts out there who can help.

You can seek help from cybersecurity consultants, managed security service providers, and compliance specialists like us. We can help you assess your risks, develop a security policy, and implement security controls.

Remember, you don’t have to do it all by yourself. It's perfectly fine to ask for help when you need it, and getting the right support can make a big difference.

What to Do If You've Been Phished

If you think you've been phished, it's important to act quickly.

Change Your Passwords

Change your passwords for all of your accounts immediately.

Contact Your Bank

Contact your bank or credit card company to report any suspicious activity.

Report the Phishing Attack

Report the phishing attack to the relevant authorities, such as Action Fraud in the UK.

Monitor Your Accounts

Monitor your accounts for any signs of suspicious activity.

Inform Your Employees

If you're a business owner, inform your employees about the phishing attack and remind them to be vigilant.

Staying Safe Online

Staying safe online requires a combination of vigilance, awareness, and proactive measures. By following the tips outlined, you can significantly reduce your risk of falling victim to a phishing attack.

Remember, it's not about being perfect. It's about making a consistent effort to improve your security and stay ahead of the curve. If you need some advice or support, feel free to get in touch.