Let's talk about low tech cyber threats today. You might be wondering, what exactly is a low tech cyber threat? Stick around, and we'll explain it.
When cybersecurity comes to mind, many people think of foreign hackers trying to breach large corporations' networks. While that's true, small and medium-sized businesses are also increasingly targeted. Cybercriminals are getting more creative, executing various scams to extract money from businesses just like yours. They know that staying below the radar allows them to profit without much risk, even if it means crippling your business in the process.
The New Wave of Cyber Threats
Gone are the days when cyber threats were only about manipulating invoices on your exchange server or hacking into your network to steal financial data. These days, criminals are finding innovative ways to obtain your banking information. Let me share a personal story to illustrate this point.
Last week, my wife received an envelope in the mail. Inside was a paper invoice from a fictitious company with an address in North Carolina. The invoice was for a little over $500, a seemingly small amount. In a busy medical office, where low-cost items like steri-strips and syringes are frequently ordered, such an invoice might easily slip through and get paid.
But here's the catch: once you send that check, the scammers now have your bank's routing and account number. With that information, they can initiate an EFT (electronic funds transfer) and drain your account. Fortunately, my wife's business doesn't have high enough volume for the invoice to pass unnoticed. She knew she hadn't ordered those materials recently, and the invoice looked suspicious.
Protecting Your Business
This example highlights how cybercriminals are using low tech methods to target businesses. They're not just looking for a quick $500; they're after your account details to cause much more damage. This kind of scam underscores the importance of having a robust cybersecurity policy in place. Believe it or not, your cyber insurance can cover you in such scenarios because it's considered a data breach, even if the breach comes via paper.
Don't Ignore the Risks
If you're not concerned about these types of attacks on your business, it's time to take a closer look. Ignoring these threats is risky. Without a cybersecurity policy, it's only a matter of time before your business gets hit, and the consequences could be devastating.
At Insurance for Texans, we offer a range of options to protect businesses of all sizes, from small enterprises to large corporations with specific needs, including those with government contracts. Our cyber insurance specialists work with you to find the right coverage at the best price.
Click the yellow button below to let us help you secure your business's future with top-notch cybersecurity insurance. Stay vigilant, Texas!