Email is an essential and critical tool for businesses of all sizes. Unfortunately, this also makes email a favorite target for cybercriminals. According to the FBI’s Internet Crime Complaint Center (IC3) annual report for 2023, business email compromise (BEC) fraud cost victims a combined $2.9 billion, while phishing complaints represented the greatest percentage of cybercrime complaints. In addition, businesses in New York City, Long Island, and the Tri-State Area are especially vulnerable to email-based threats because of the high concentration of financial institutions and other attractive targets for attackers.
This article explores the most common email security threats and ways to protect your business from them.
Common email security threats
While there is a vast variety of email-based threats, you and your staff will most likely encounter the following:
Phishing
Phishing emails trick recipients into disclosing passwords, credit card numbers, and other sensitive information. Often appearing legitimate, these emails may seem to come from banks, credit card companies, or co-workers. They usually provide a link that takes the victim to an authentic-looking but fake website. Once the victim enters their information on the fake site, the attackers have it.
Malware
Malicious software (malware) can be attached to emails or downloaded from links within emails. Once opened, malware can install itself on a victim's computer, stealing data, damaging files, or taking control of the entire system.
Ransomware
This malware uses encryption to prevent victims from accessing their data unless they pay a ransom. Even then, there’s no assurance that the attackers will decrypt the files after payment.
Business email compromise
BEC scams target employees with access to financial data, such as accounts payable or payroll. The attackers will impersonate a legitimate vendor or executive and send an email requesting a wire transfer or other transaction.
Spam
Spam is unsolicited bulk email. While not typically dangerous, spam can be a nuisance and can contain phishing links or malware.
How can you protect your business from email-based threats?
You can secure your business with these actionable steps:
Educate your employees
Your employees are your first line of defense against email security threats. Train them to be wary of unsolicited emails, particularly any that include unfamiliar links or attachments. In addition, teach them to identify common phishing tactics, such as spoofed sender addresses and urgent language.
Foster strong password policies
Require employees to use hard-to-crack passwords for their email and other online accounts. A robust password should have at least 12 characters containing uppercase and lowercase letters, numbers, and special characters. Even better, use a password manager to assist employees in generating and maintaining secure passwords.
Integrate advanced security features
Install features that improve your security posture against email-based threats, such as:
- Multifactor authentication (MFA): Adds an extra layer of security to your email accounts by requiring a second factor, such as a code from a smartphone app, to log in
- Spam filter: Keeps your employees’ inboxes free of spam emails
- Network firewalls: Block malicious traffic from entering your network
- Data backups: Ensure you can recover quickly in the event of an attack
Always update your software
Cybercriminals are always at work, either looking for new vulnerabilities to exploit or developing new means to exploit old ones. Fortunately, software developers are also always working to stay ahead. But to benefit from their hard work, you need to update your email and security software with the latest security patches.
Partner with a managed services provider (MSP)
While following the above tips can significantly improve your email security posture, your business can also benefit greatly from partnering with an MSP like HealthyIT. They have the tools and skills to help you implement and maintain a comprehensive email security solution.
Together with HealthyIT, you can protect your business from ever-evolving threats. Contact us today to learn more or get a free consultation.