Payroll is easily one of the most sensitive parts of any organization. For a business to grow and thrive, employees payroll information must be secured and payments made in a timely manner.
Cybercriminals are using targeting Phishing techniques to steal any employee’s credentials with this in mind. Check out this quote from FBI’s 2018 Cybercrime Report:
“Once the cybercriminal has obtained an employee’s credentials, the credentials are used to access the employee’s payroll account.
The cybercriminal will typically add rules to the employee’s account preventing the employee from receiving alerts regarding direct deposit changes.
The cybercriminal will then change the direct deposit information, redirecting the payroll funds to an account controlled by the cybercriminal, which is often a prepaid card.”
Protect Your Business
In order to prevent these attacks from costing your organization, here are a few steps to keep you safe:
1 As always, make sure your company has good anti-spam measures in-place. The less spam that gets through, the less likely that a user will click on a malicious link. Once your employees start clicking links in phishing emails, or even replying to the email, cybercriminals know they can continue to target your organization!
2 Verify with the employee, either by phone or in-person, that they want their payroll account information changed. This verification step may save you a huge headache down the road.
3 Educate your employees! They may not be as motivated to learn about Phishing and Ransomware when it isn’t their property affected but when it comes to payroll, they’ll listen. Send out an email establishing the proper procedures when it comes to changing payroll information and email threats.
To see the full FBI Cybercrime Report, click here
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