October is Cybersecurity Awareness Month: How to Stay Vigilant Against Phishing Threats in 2024

We’ve heard numerous horror stories over the years of business owners falling victim to sophisticated phishing scams that compromise their operations, cost them thousands of dollars, and expose their customers to risk. Hackers are evolving rapidly, making it harder to distinguish between malicious threats and everyday emails.

Our goal here is to empower, not scare you. The good news? Many of these threats are avoidable with vigilance. Hackers are even craftier than before, and phishing schemes have adapted to exploit newer technologies. However, with a few best practices, you and your team can keep your data safe from current phishing trends.

Below, we outline some common phishing threats and offer ways to safeguard against them.

Common Threat 1: Impersonation of Accounting or Financial Software

Phishers continue to target users of popular accounting software, impersonating platforms like QuickBooks with claims such as “Your file is corrupted,” “Your payment method is expiring,” or “Your software needs an urgent upgrade.” The goal is to either convince you to pay for a fake service or grant them access to your system.

How to dodge the threat: Always verify the sender’s email address. Emails from Intuit or QuickBooksⓇ will end with “@intuit.com” or “@quickbooks.com.” If you receive a suspicious email, permanently delete it. Do not provide sensitive information or remote access to anyone unless they are a trusted, verified partner.

Common Threat 2: The Rise of AI-Assisted Phishing

Hackers are now leveraging AI tools to generate phishing emails that mimic legitimate communications. These emails may come from familiar addresses or look nearly identical to a colleague’s typical correspondence, including personalized details that make the email seem even more credible.

How to dodge the threat: Never click on links or download attachments from unexpected emails, even if they appear to come from trusted contacts. Always hover over links to preview the URL and verify its legitimacy. AI tools are being used both by hackers and cybersecurity experts, so staying ahead of phishing trends is more important than ever.

Common Threat 3: “You Have Voicemail,” “Urgent Invoice,” and “Thanks for Your Purchase” Emails

While voicemail and invoice phishing schemes aren’t new, hackers are increasingly using these tactics to create a sense of urgency. You might receive an unexpected email about a voicemail or invoice, often from a service you don’t use. In addition, we’ve seen emails alerting you to free prizes – you’ve won a free trip – with a link to click to claim your prize.

Lastly in this category, there is a new strategy in which phishers send “confirmation” emails suggesting that you’ve made a subscription purchase, going so far as to even include a pdf of a phony receipt.

How to dodge the threat: If something feels off, it probably is. Never download an attachment or follow a link without verifying the source through another channel. Call the service provider directly to check whether they sent the email, and always be wary of “business” emails that end in @gmail.com, @yahoo.com, etc.

Common Threat 4: The QR Code Swap

QR codes have become a ubiquitous tool, especially in restaurants and retail. However, phishers now use QR codes to disguise malicious URLs. They may overlay fake QR codes in public spaces or send phishing emails with QR codes that link to compromised websites or malware.

How to dodge the threat: Before scanning a QR code, double-check its placement and ensure it hasn’t been tampered with. After scanning, review the web address that appears and make sure it’s legitimate before clicking. If something feels suspicious, don’t scan the code.

Common Threat 5: Social Engineering on Social Media

Phishing attacks are increasingly moving to social platforms like LinkedIn and Facebook. Hackers may pose as recruiters, customers, or industry professionals to extract personal information or trick you into downloading malicious files.

How to dodge the threat: Be wary of unsolicited messages from strangers on social media, especially those requesting personal details or sharing links. Always verify the identity of anyone asking for sensitive information and avoid clicking on unknown links shared via direct messages.

Best Practices: Staying Secure in the Age of Evolving Phishing Tactics

While phishing techniques continue to evolve, the core defenses remain the same: vigilance, awareness, and caution. Here are some key best practices to follow:

• Set up multi-factor authentication (MFA): Use MFA wherever possible. This could involve receiving a code via text, email, or through an authenticator app like Google Authenticator. MFA adds an extra barrier for hackers, making it far less likely they’ll succeed even if they gain access to your credentials.
  Use strong, unique passwords: Password management apps like LastPass or 1Password can generate complex passwords and securely store them. Avoid reusing passwords across different accounts.
• Stay informed on new phishing tactics: Cybercriminals are constantly adapting. Subscribe to trusted cybersecurity news outlets like PCMag, Forbes, or TechCrunch to stay updated on the latest phishing techniques.
• Train your team: Cybersecurity isn’t just an IT responsibility—it’s an organization-wide effort. Conduct regular phishing simulations and training sessions to ensure that your employees recognize suspicious activity and respond appropriately.
• Don’t open doors for strangers: Whether in person or online, never allow someone to access your computer or accounts unless you have verified their identity through an established and trusted channel. If in doubt, don’t engage.
• Verify email senders: Always check email addresses carefully. A small typo or strange domain could indicate a phishing attempt. Cross-check with trusted sources if something feels off.
• Use secure file-sharing methods: When sending or receiving sensitive information, avoid doing so via email. Use encrypted file-sharing services like SmartVault or similar tools.
• Trust your instincts: If something feels off, don’t proceed. Whether it’s a weirdly worded email or a strange request, your gut is often a good first line of defense against phishing attempts.

It’s more important than ever to remain cautious and aware of evolving cybersecurity threats. Phishing is becoming more sophisticated, but by staying alert and following these best practices, you can protect your business and personal data from harm.

If you’re unsure about an email or solicitation, especially related to your accounting software, reach out to us. We’re always here to help!